Vietnam Food Association (VFA) reported that enterprises exported 450,000 tonnes of rice for over $175 million in July with the sustainable price of $410 per tonne. Thus, from early 2009 to July 31, the rice export reached about $4.1 million tonnes worth more than $1.7 billion.
Importers of Vietnam during the first seven months are mainly traditional markets led by Philippines with 50 percent market share, Malaysia over 8 percent, Cuba with 5.98 percent and Iraq 4.53 percent, according to Ministry of Agriculture and Rural Development.
Export target of six million tonnes of rice within 2009 can be reached because to date, Vietnamese companies of VFA have signed contracts to deliver over five million tonnes. However, as per forecast, the global rice price in the rest of 2009 will tend to decrease because the leading rice exporters all increased the rice production and sales. In which, Thailand started to sell out 2.6 million tonnes of stockpiled rice to the market.