World rice demand increases sharply

Due to the growing demand for rice in the world market, Vietnam and other countries including Thailand, Pakistan, India decided to increase their price of rice exports by 30 percent in October compared to the previous month.

So far, Vietnam has exported 5.563 million tonnes of rice, worth US$2.351 billion, according to the Vietnam Food Association (VFA).

In November, Indonesia may possibly buy 200,000 tonnes of Vietnamese rice because of the failure of negotiations with Thailand over prices.

The Megi storm, which flooded the Philippines, means the country must import 500,000-600,000 tonnes of rice by mid-December.

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