Rice is stored at a Dong Thap Food Co warehouse. The country's rice exports fell by nearly 6 per cent in the first 10 months to 5.038 million tonnes. — VNA/VNS Photo Dinh Hue

HCM CITY (Biz Hub) — Rice exports fell by nearly 6 per cent in the first 10 months to 5.038 million tonnes, according to the Viet Nam Food Association.

The average export price was US$24.03 per tonne lower than last year, it said.

Asian countries remained the main markets, buying 71.58 per cent of Viet Nam's exports, but exports to Africa, Australia, and Europe increased significantly.

VFA chairman Huynh The Nang said companies' registration of rice export contracts last month was the highest this year at nearly two millions tonnes, a year-on-year increase of 22 per cent.

The increase was thanks mainly to large contracts from Indonesia, the Philippines, and Cuba, he said.

According to the Crop Production Department and Cuu Long (Mekong) Delta provinces, many localities will start the winter-spring crop early due to unusually low flooding in the Mekong, meaning some places will begin harvesting the crop by January.

Rice exports over the next several months would be robust, the association said.

Exports were expected to top 6.34 million tonnes this year, and 7.98 million tonnes if border trade was added, it said.

Last year 6.3 million tonnes had been exported. — VNS