Viet Nam posted strong growth in rice exports in January.-VNA/VNS Photo Dinh Hue Exports rose by 28.1 per cent in volume and 38.4 per cent in value year-on-year. Since the start of the winter-spring rice crop, domestic prices have remained stable while export volume has surged. Before the Tet festival, local businesses contracts to ship rice to the Philippines and Malaysia due to more competitive prices than other countries. FOB (free on board) prices stand between $340 and $350 per tonne for five-per-cent-broken rice, falling $10-$20 for 15-per-cent broken rice and 25-per-cent broken rice. This year, the Philippines is expected to maintain its import volume, while the African market is forecast to purchase 1 million tonnes, followed by Malaysia at 500,000 tonnes. The nation also exports from 300,000 to 400,000 tonnes to Cuba each year, while Iraq buys about 300,000 tonnes. China plans to buy 400,000 tonnes of local rice every year. Bui Thi Thanh Tam, general director of the Northern Food Corporation, said five years ago, China was the largest market for local rice but now Viet Nam had expanded its export markets. This meant the coronavirus epidemic would not take a big hit on Viet Nam’s rice exports…. Read full this story
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