Q3 rice exports set to fall

by VTV423 May 2016 Last updated at 17:59 PM

VTV.vn - According to the Vietnam Food Association, the export of rice in Q2 may reduce due to the lower supply before the summer-autumn crop. Q2 exports were predicted to reach 1.5 million tonnes, 100,000 tonnes lower than the forecasted last month.

As of May 18th, the country's rice export reached more than 2 million tonnes, valued at over 875 million USD, up 15% in both volume and value compared to the same period last year. The increase was due to high rice exports during Q1 and overlapping contracts from 2015 transferred to 2016.

However, for Q2, in April, rice export only reached 453,000 tonnes, 550,000 tonnes lower than the expected target. The Vietnam Food Association forecasts the demand for Vietnamese rice from the Philippines, Indonesia and China will increase in the next six months. If supply is limited and prices are not competitive, Vietnam will risk losing market share to India and Pakistan.

Tags:

Top VND Exchange Rates

Auto-refesh 15m

USD

EUR

AUD
1 VND
Inverse:
0.00004
22,510.0
0.00004
25,226.0
0.00006
15,674.0

Mid-market rates: 2024-12-26 20:42 UTC