Rice exports likely to reach 1.6 million tonnes in Q2
The Vietnam Food Association (VFA) aims to export 1.6 million tonnes of rice in the second quarter of this year, 200,000 tonnes lower than initially planned.
Hanoi (VNA) - The Vietnam Food Association (VFA) aims to export 1.6 million tonnes of rice in the second quarter of this year, 200,000 tonnes lower than initially planned.
In the first three months of this year, the country exported 1.59 million tonnes of rice.
As so, rice exports in the first half of this year are expected to hit over 3 million tonnes, up 12 percent against the same period last year.
For the whole year, the export volume is expected to remain at last year’s 6.5 million tonnes.
In 2015, Vietnam earne𒅌d 2.68 billion USD from rice export, a decrease of 3.94 percent in value. Asian countries were the main buyers, accounting for 74.5 percent of exports, followed by🔴 Africa (13.77 percent) and the US (6.72 percent).
Early April, the Ministry of Agriculture and Rural Development was assigned to closely monitor rice production and exports.
The move intended to ensure domestic food security and effectively manage export activities, given that prolonged and serious drought and saline intrusion are hitting major granaries in the country, particularly in the Mekong Delta.
This year, the delta expected to plant over 4.3 million hectares of rice fields, which would yield approximately 25.7 million tonnes of rice.
According to preliminary estimations, drought and saltwa𝐆ter have reduced the expected output by 700,0🍒00 tonnes, which are equivalent to 350,000 tonnes of rice./.
Vietnam exported nearly 315,000 tonnes of rice as of January 28, an increase of 46 percent compared with the same period last year, according to the Vietnam Food Association (VFA).
State and local rice firms should pay attention to developing domestic rice markets, as they have a great potential in the overall selling of rice, said experts.
Vietnam shipped abroad approximately 440,000 tonnes of rice in February, up 5.44 percent against last month and 117 percent from a year ago, according to the Vietnam Food Association (VFA).
Rice exports have surged in the first two months as many of last year's contracts are being executed this year, according to the Vietnam Food Association.
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Local rice exporters have offered a higher export price due to price rise in the domestic market, thereby losing the advantage in the competitive world market, said experts.
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Illustrative photo (Source:VNA)
