Hanoi (VNA) - Vietnam’s rice exports are likely to exceed the 𒅌target set for 2015 by 200,000 -300,000 tonnes, hitting around 6.5 million tonnes for the year.
A strong end to the year has been attributed to the sector’s success.
According to the Vietnam Food Association, the country had shipped 5.807 million tonnes of rice as of November this year, and the figure for December is forecast to reach about 700,000 tonnes.
Additionally, rice exported through unofficial channels – across borders - is estimated at 1,6-1.8 million tonnes, which is expected to lift the yearly exports through both official and unofficial channels to about 8 million tonnes.
Vietnamese rice exporters have recently won bids to supply 450,000 tonnes of rice to the Philippines and one million tonnes of rice to Indonesia, helping raise the price of rice in the domestic market.
Vietnam has around 4.1 million hectares of rice paddies, 53 percent of which are concentrated across the Mekong Delta.
In 2014, the country exported 6.3 million tonnes of the 45 million tonnes it produced, making it the world’s third largest rice exporter after India and Thailand.
In the first ten months of this year, Asia maintained its position as Vietnam’s biggest rice importer, despite an annual decline of 11.2 percent in the market share to 71.58 percent. Africa, Australia, and Europe showed greater demand for Vietnamese rice with higher imports recorded during the period./.
Vietnam earned almost 1.2 billion USD from shipping more than 2.8 million tonnes of rice to foreign markets since the outset of this year, according to the Vietnam Food Association (VFA).
Rice demand from Vietnam's traditional markets is showing signs of recovery for the next six months, according to Huynh Minh Hue, Vice Chairman of the Vietnam Food Association (VFA).
Exporters signed contracts to sell nearly 2 million tonnes of rice overseas in October, exceeding the figure of the same period last year by over 22 percent and a record volume for one month.
Vietnam’s rice exports are likely to reach 6.8 million tonnes in 2015, according to the Ministry of Agriculture and Rural Development’s Centre for Informatics and Statistics.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
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The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
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Illustrative image (Source: VNA)
