Enterprises sign contracts for exporting 7m tonnes of rice by mid-Nov

Vietnam Food Association (VFA) announced that up to mid-November, the enterprises have already signed contracts for exporting 6.8 million tonnes of rice so far.

If adding 200,000 tonnes of rice that have been sold to Indonesia, following the contract signed between two governments, Vietnam has exported 7 million tonnes of rice so far. In fact, the total export volume that Vietnamese enterprises have signed was estimated at 6.11 million tonnes of rice, worth $2.598 billion.

VFA also revealed that the rice export price would continue increasing after 2010-2011 crop because the world’s production output declines while demand remains high.

From August up to now, the export price of Vietnam’s rice rose by 8 percent at $490-500 per tonnes for 5 percent broken rice and $445-450 per tonne for 25 percent broken rice.

 

Category: Business