VN exports 400,000 tons of rice in Jan.

Việt Nam exported 400,000 tons of rice, earned US $240 million in January, and saw 25.4% decrease in quantity and 14.2% decline in value against the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

The country's rice exports are expected to reach over 1.1 million tons in Q1 this year, 700,000 tons less than last year's figures.

Việt Nam’s grain rice faces tough competition from India, Myanmar and Pakistan, and may lose up to 20% of its market share in Africa.

In 2011, Việt Nam’s low quality rice exports decreased by 61% while 5% broken grain and fragrant rice increased 5% and over 100% respectively.

This year, Việt Nam plans to export 6.5-7 million tons of rice, slightly less than the 7.1 million tons of last year.

In 2012, Việt Nam’s rice exports will focus on quality, not quantity in a bid to enter new markets in Europe, Australia, and China./.

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