Vietnam lowers 2013 rice export target
The Vietnam Food Association (VFA) has once again lowered the 2013 rice export target to around 6.7 million tonnes, down about 11 per cent from the original target of around 7.5 million tonnes, and down about 4 per cent from the revised target of around 7 – 7.2 million tonnes, according to local reports.
Sources say that several export contracts to China stand cancelled as Vietnamese exporters are now interested to sell rice in the domestic market due to higher prices there. Vietnam is also facing increasing competition from Thailand which is aggressively lowering prices to boost rice exports.
According to the VFA, Vietnam’s rice exports in January – October 2013 stand at around 5.7 million tonnes, down about 12 per cent from rice exports during the same period in 2012. Vietnam was the world’s second largest rice exporter behind India, with about 7.7 million tonnes of rice exports.
The Vietnam Food Association (VFA) has once again lowered the 2013 rice export target to around 6.7 million tonnes, down about 11 per cent from the original target of around 7.5 million tonnes, and down about 4 per cent from the revised target of around 7 – 7.2 million tonnes, according to local reports. Sources say that several export contracts to China stand cancelled as Vietnamese exporters are now interested to sell rice in the domestic market due to higher prices there. Vietnam is also facing increasing competition from Thailand which is aggressively lowering prices to boost rice exports. According...
The Vietnam Food Association (VFA) has once again lowered the 2013 rice export target to around 6.7 million tonnes, down about 11 per cent from the original target of around 7.5 million tonnes, and down about 4 per cent from the revised target of around 7 – 7.2 million tonnes, according to local reports.
Sources say that several export contracts to China stand cancelled as Vietnamese exporters are now interested to sell rice in the domestic market due to higher prices there. Vietnam is also facing increasing competition from Thailand which is aggressively lowering prices to boost rice exports.
According to the VFA, Vietnam’s rice exports in January – October 2013 stand at around 5.7 million tonnes, down about 12 per cent from rice exports during the same period in 2012. Vietnam was the world’s second largest rice exporter behind India, with about 7.7 million tonnes of rice exports.
