Rice exports to Africa rise

Some rice companies have signed some more rice exporting contracts with African partners in August, according to the trade ministry. It is expected that Africa will import 300,000 tonnes of rice from Vietnam during the last four months of this year.

The trade ministry added that the total amount of rice that Vietnam has contracted to export since early this year has reached about 3.2 million tonnes, however, the ministry warns that rice exports are tending to drop slightly as the exportable rice in stock from previous crops in the southern provinces has run out. Hence, rice traders should be cautious in signing export contracts before the start of the new harvest in September.

At present, Vietnamese rice on the world market has increased by US$2–3 a tonne against July. The price of 5% broken rice is now US$181–182 per tonne while that of 25% broken rice is now US$177 a tonne.

 

Category: Economy