billion in the first nine months of the year, an increase of 40 per cent
in volume and reduction of 6.2 per cent in value against the same period
last year, the Viet Nam Food Association (VFA) reported on Wednesday.
The VFA estimated that rice exporters would ship an additional 1.2
million of rice in the fourth quarter of this year, taking total exports
this year to 6-6.2 million tonnes, a record level.
As of Wednesday, Vietnamese exporters had signed contracts to export a
total of 6 million tonnes of rice this year.
Nguyen Tho Tri, VFA's deputy chairman, said the prices of Vietnamese
export rice were increasing by $30 a tonne compared to last month.
Tri said VFA and its member companies were negotiating with importers to
sign large contracts that could be signed by the year-end.
Viet Nam's main export markets are Indonesia, the Philippines, Cuba and
Iraq.
This year, rice exports to Africa and the Middle East have increased
significantly.
Rice exporters have delivered 1.4 million tonnes to Africa and 250,000
tonnes to the Middle East in the first nine months of the year, an
increase of 98 per cent and 65 per cent against the same period last
year, respectively.
The VFA also reported that its member companies had bought 380,000
tonnes of 500,000 tonnes of rice after the Government last month ordered
the VFA to purchase part of the summer-autumn rice crop to ensure stable
prices.
The VFA's member companies will complete the purchase of 500,000 tonnes
of rice by November 20.
In early August, the association members also purchased 490,000 tonnes
of rice from Mekong Delta farmers to stabilise rice prices when the
delta was entering its peak harvest of the summer-autumn crop.
The Delta, the country's rice granary, has harvested about 2 million
tonnes of rice in the summer-autumn crop, according to the Ministry of
Agriculture and Rural Development.
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