Rice export goal raised to 5.6 million tons this year

In the first eight months this year, the country exported more than 3.8 million tons of rice with free on board (FOB) value of 1.66 billion USD, up 17.7 percent in volume and 16.6 percent in value, respectively, on a yearly basis.

The VFA revised up the goal of rice export to 5.6 million tons this year.

August saw a surge of 70 percent in volume and 56.8 percent in FOB value of rice shipments.

During the eight months, businesses signed export contracts amounting to 5.1 million tons, more than 1.2 million tons 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 tons of glutinous rice between now and the year’s end while Vietnam can meet only 20-25 percent 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.