Vietnam has signed contracts to export more than 4.2 million tonnes of rice so far this year, up 24 per cent compared to the same period last year.
The Ministry of Agriculture and Rural Development (MARD) reported that in March alone, the country signed contracts to ship abroad more than 1.8 million tonnes, a record high within a month, up 278 per cent against February and nearly 68 per cent against March 2011.
Traditional importers of Vietnamese rice, including Africa, the Philippines, Malaysia and Indonesia, are once again interested in buying the country’s rice. China, the world’s most populous country, has also signed deals to import 770,000 tonnes from Vietnam.
These positive signs are attributed to the shrinking stockpiles of rice in many countries, an increasing demand and late deliveries by some other major rice exporters such as India and Pakistan.
The Vietnam Food Association said that as of March 31, Vietnam had exported over 1.08 million tonnes of rice valued at more than $530 million.
Currently, the price of 5 per cent broken rice ranges from VND8,550-8,650 per kilo, 15 per cent broken rice sells for VND8,050-8,150 per kilo and 25 per cent broken rice is priced at VND7,450-7,550 per kilo.