According to reports as indicated by the Vietnam Food Association (VFA) that the Vietnam exported nearly 315,000 tonnes of rice as of January 28, an increase of 46 per cent as compared with the same period last year. The rice exports were shipped at US$127 million in free on board (FOB) value and $135 million in cost, insurance and freight (CIF) value, up 39 and 42.5 per cent, respectively. Further, the association noted that the increase in rice exports last month was due to the fact that Vietnam’s rice exporters had to complete government-to-government deals with the Philippines and Indonesia.
Furthermore, it has also been reported by VFA that in the last year, Vietnam exported 6.5 million tonnes for $2.68 billion, a decrease of 3.9 percent in value. The Asian countries were the main buyers, accounting for 74.5 per cent of exports, followed by Africa (13.7 percent), and the US (6.7 per cent). The association forecast that rice export volume this year excluding border trade is expected to remain the same as it was in last year.