According to the Vietnam Food Association (VFA) Vietnam exported 5.55 million tonnes of rice worth US$2.56 billion in November.

According to news website in the first 20 days of November, Veitnam dispatched 190,000 tonnes of rice, and from Jan till Nov 20, it exported 5.55 million tonnes of rice worth US$2.56 billion.

In the first 20 days of this month the usual export price raised at US$474.5 per tonne, which was less than the US$486.6 per tonne price in the same stage last October.

The VFA reported that rice prices dived severely from November 14 to 20, by 300 VND to 450 VND per kilo to 8,450 VND per kilo for rice with 5% broken grains, 8,100 VND for rice with 15%broken grains, and 7,700 VND for rice with 25%broken grains.

This year, Vietnam assumes to export 6.5 to 7million tonnes of rice, value US$3 billion,

Usual export arcades for Vietnamese rice include Singapore, mainland China, Hong Kong and Cote d’Ivoire, as well as Algeria and Indonesia.

The VFA has also forecasted 2015 to be a hard-hitting year for Vietnam’s rice exporters as there would be intense competition from their Thai competitors since Thailand has focused on recouping conventional rice markets in Africa and developing its markets in Asia, especially the Philippines, Indonesia and China.