Companies in the country have in the year to date contracted to export 3.6 million tons of rice, up 600,000 tons compared to end-March, according to the Vietnam Food Association (VFA).
The Saigon Times Daily
Vietnam’s key rice importers include China, the Philippines, Indonesia and Malaysia. In particular, China is emerging as a major market for this staple food since the volume of rice export contracts to China has been rising in recent times, said VFA.
The country in the first quarter exported more than one million tons of rice, down over 40% in both volume and value year-on-year. However, rice exports are getting back on track as the number of export contracts is picking up.
At present, rice traders in the Mekong Delta buy low-grade rice IR50404 at VND4,100-4,400 and VND4,900-5,300 a kilo for fresh and dried grain respectively. The price of commercial grain IR50404 ranges between VND6,700 and 6,900 a kilo.
VFA said some 89 member enterprises have bought more than 700,000 tons as part of a plan to stock up on one million tons of rice in this year’s winter-spring crop to prop up prices.