Two Vietnamese companies will export 84,000 tonnes of rice to China this year. — Photo gaosachcaocap.vn

Loc Troi Group and Tan Vuong Food Joint Stock Company will export 84,000 tonnes of rice per year to China.

The export of rice is under five memorandums of understanding signed between the two companies and their Chinese partners during a seminar on rice trade co-operation between Viet Nam and China held in the southern province of An Giang last week.

An Giang annually exports more than 400,000 tonnes of rice to foreign countries, earning about US$220 million. The province’s rice products have been shipped to 63 countries, including the US, Germany, Spain, Canada, Australia, New Zealand, Japan, Singapore, the Philippines and several Middle Eastern countries.

According to figures from China’s Customs Office, China spent $1.6 billion importing rice in 2018, of which $740 million comprised Viet Nam’s rice, occupying 45 per cent of the total.

Earlier this year, Viet Nam Southern Food Corporation (Vinafood 2) and Food Valley of China (FVC) inked a memorandum of understanding on rice trade, in which China will import 100,000 tonnes of rice from Viet Nam. — VNS