leftcenterrightdel
Rice harvested by machinery 
The country earned USD 206 million from exporting 430,000 tons of rice in October alone.

From January to October, China remained the biggest importer of Vietnamese rice when it was the destination of 39.3 percent of Vietnam’s exported rice. It is followed by the Philippines (9.6 percent) and Malaysia (8 percent).

According to the Vietnam Food Association (VFA), regional countries’ demand for imported rice will rise sharply in the last months of the year. The recent serious flooding in Bangladesh damaged about 1million tons of rice in this country, turning the South Asian nation into a big rice importer with a forecast volume of up to 1.5 million tons in 2017.

The Philippines’s rice stockpile declined, forcing its Government to step up purchasing rice. Meanwhile, Sri Lanka is predicted to import 650,000 tons of rice this year, compared to just 60,000 tons in 2016. African markets are also recovering their rice import, the association said.

Amid positive signs like a strong increase in the number of contracts registered for export in the remaining months, the VFA raised the rice export target this year from 5.2 million tons to 5.6 million tons.

Source: VNA