 |
Viet Nam cannot export 6.8 million tonnes of rice as expected for first seven months of the year due to the cancellation of nearly one million tonnes of rice shipments by buyers—Photo toquoc
|
HA NOI (Biz Hub)— Viet Nam cannot export 6.8 million tonnes of rice as expected for first seven months of the year due to the cancellation of nearly one million tonnes of rice shipments by buyers, according to the Viet Nam Food Association (VFA).
Most of the cancelled contracts were related to Chinese traders and the rest to Philippine traders.
To prevent this, the VFA has recommended that businesses carefully check the conditions of every contract before they decide to sign, especially with Chinese traders.
Nguyen Dinh Bich, a leading expert on rice exports, said China will need more imported rice than last year.—VNS