Vietnam rice export reaches $1.2Bln as of Apr 15

Vietnam is estimated to export $1.2 billion worth of 2.139 million tons of rice as of the April 15, the Vietnam Food Association (VFA) said.

In the first half of April alone, the country earned $136.319 million worth of 290,040 tons of rice.

Asia market topped among the biggest rice importers of Vietnam with 42.44%, followed by Africa market and the US market with 37.28% and 18.03% by the middle of this month.

Earlier, VFA decided to raise the floor prices of exported rice by $10/ton to around $490/ton from March 24. This is the seventh time Vietnam rice export has been adjusted from the beginning of this year.

The VFA has begun to purchase 1 million tons of rice for stock from March 1 in order to keep paddy rice prices at market price level and at VND5,000/kg at least, local farmers said.

The prices of paddy rice in Mekong Delta provinces stood at between VND5,850-VND6,050 per kilo. Raw rice with 5% and 25% broken rice fell to between VND7,750-VND7,850/kg and VND7,750-VND7,850/kg, respectively.

The second biggest rice exporter in the world is forecast to export 6.6 million tons this year, the local newspaper Thoi Bao Kinh Te reported on February 17, citing Truong Thanh Phong, chairman of the VFA – Stoxplus.com

Tags: Vietnam rice exports