Domestic rice firms have so far signed contracts to export 2.6 million tonnes of rice and have purchased approximately 200,000 tonnes for stockpiling as per gov’t directive, said Truong Thanh Phong, chairman of the Vietnam Food Association on March 21.
|A food company buys rice from the Co Do State Farm in Can Tho (Photo:VNA)|
By the beginning of March, businesses had signed contracts to export 555,000 tonnes of rice and are expected to sign for another 3 million tonnes by the end of this month.
China, Malaysia, Indonesia and Philippines are Vietnam’s traditional rice export markets.
From the beginning of this year, domestic rice firms have so far dispatched 800,000 tonnes of rice, and are expected to deliver a further 1.1 million tonnes in the first quarter of the year, worth an estimated US$553 million.