These figures showed declines of 3% in volume and 20% in value compared with the same period last year. Prices of rice exports went through a sharp decrease of 75 USD to around 429 USD per tonne, compared with the first half of last year.
The decline is attributed to lack of major export contracts. China, Vietnam's largest rice market, has abundant rice in stock while Bangladesh has recovered agricultural production after flooding. The declining trend is forecast to continue the rest of the year. According to the Ministry of Industry and Trade, Vietnamese rice exporters lack cooperation with foreign partners and thus have no regular distribution channels in foreign markets.
