Vietnam exports 7 million tonnes of rice this year

Vietnamese businesses have signed contracts to export some 7 million tonnes of rice this year, according to the Vietnam Food Association (VFA).

Of this figure, more than 6 million tonnes have already been delivered with a total turnover of US$2.556 billion. The VFA says that, the price of rice will remain high in the next winter-spring crop because of the decrease in the world’s rice productivity, but the demand for rice remains large. Farmers are expected to make a profit of about 30 percent.

Since early August, the price for rice for export has risen by 8 percent and now stands at US$490-500 per tonne (For 5 percent broken rice) and at US$445-450 per tonne (For 25 percent broken rice).

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