Vietnam’s rice exports surge in February

Vietnam shipped abroad approximately 440,000 tonnes of rice in February, up 5.44 percent against last month and 117 percent from a year ago, according to the Vietnam Food Association (VFA). 

The rice exports were valued at 178 million USD with average FOB price was estimated at 405 USD per tonne. 

The country exported 856,000 tonnes of rice in total for 348 million USD during the first two months of 2016. The amount also doubled that of the same period last year thanks to continued purchases from Indonesia, the Philippines and China. 

The domestic price of rice is forecast to be on the rise in the coming time as severe drought and saltwater intrusion have been affecting large areas of rice in the Mekong Delta, while a large volume, around 1.4 million tonnes, of signed contracts is scheduled to be delivered in the coming months.