Vietnam to export 700,000 tonnes of rice in June

The Board of Management of the Vietnam Food Association (VFA) will export 700,000 tonnes of rice in June, bringing the total export volume in the first two quarters to 3.35 million tonnes, 300.000 tonnes less than in the same period last year. Despite the signing of large export contracts, Vietnam still has plenty of rice stockpiled as its delivery is being affected by rainy weather. Speaking at a VFA meeting in An Giang on June 3 to review exports in the first five months, VFA Secretary General Huynh Minh Hue said businesses exported 712,007 tonnes of rice in May at an average price of US$417.74 per tonne. In the first five months, Vietnam exported 2.689 million tonnes of rice at an average price of US$454.03 per tonne, US$42.54 higher than the average price in 2009. The VFA Board of management and businesses expressed concern that the Ministry of Finance has not yet set a price for the 2009-2010 winter-spring crop, which may present a problem for the association and its members. According to the VFA, even though rice prices are seeing a slight rise, farmers will have trouble selling their rice due to a slow-down in the market and the low quality of the summer-autumn rice.