Rice export goal raised to 5.6 million tonnes this year
The Vietnam Food Association (VFA) revised up the goal of rice export to 5.6 million tonnes this year from the 5.2 million tonnes set in July thanks to a strong rise in contracts signed during August and positive signs of the market.
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August saw a surge of 70% in volume and 56.8% in FOB value of rice shipments.
During the eight months, businesses signed export contracts amounting to 5.1 million tonnes, more than 1.2 million tonnes of which are yet to be delivered.
Positive signals were also seen in the shipment of glutinous rice to China.
Dang Thi Lien, Director of the Long An food company, said China has demand for 300,000 tonnes of glutinous rice between now and the year’s end while Vietnam can meet only 20-25% of them so export prices could continue to rise later this year.
Export of jasmine rice has also performed well.
VFA Chairman Huynh The Nang said China, Bangladesh and the Philippines remain potential rice importers of Vietnam.
Apart from African countries, new markets such as Iran, Iraq are likely to buy Vietnamese jasmine rice while japonica rice is gaining more popularity in Australian continent and China.
