According to Director General of The Southern Food Company (Vinafood 2) Mr. Huynh The Nang, the company has signed a contract to export 200,000 tonnes of rice to Malaysia at 410 USD per tonne. It is a sign that Vietnam’s rice is gradually regaining its place in the Asian market – he said.
Earlier, some Vietnamese exporters also won contracts to sell rice to the Philippines and Bangladesh.
Data from the Vietnam Food Association (VFA) show that Vietnam exported 1.932 million tonnes rice in the period from January to mid-May, earning 845.38 million USD.
The VFA has lowered the 2014 rice export target from 6.5 – 7 million tonnes to 6.2 million tonnes due to heavy competition from India and Thailand.