Business

Rice export deals hit record level in October

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.
Rice export deals hit record level in October ảnh 1Illustrative image (Source: VNA)

HCM City (VNA) – 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.

The outcome is attributable to the winning of bids to sell more than 1.5 million tonnes of rice to the Philippines, Indonesia, and Cuba.

According to the Vietnam Food Association (VFA), in the last ten months, Vietnam exported over 5 million tonnes of rice, a slight decrease of 6 percent year-on-year. The export price also dropped by 24.03 USD per tonne.

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.

The VFA anticipates 6.34 million tonnes of rice will be shipped abroad in 2015, excluding cross-border sales estimated at 1.64 million tonnes.-VNA

VNA
#Vietnam Food Association#rice importer#market share#cross-border sales
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