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| The VFA recorded year-on-year declines of 10.7 per cent in volume and 13.6 per cent in value for rice exports. — Photo vtv |
HA NOI (Biz Hub) — Viet Nam earned some US$875 million from shipping nearly 2.1 million tonnes of rice abroad in the first five months of 2015, according to the Viet Nam Food Association (VFA).
The VFA recorded year-on-year declines of 10.7 per cent in volume and 13.6 per cent in value for rice exports.
In May alone, the volume of rice exports posted a monthly decrease of 19 per cent, mainly as a result of pressure to sell inventory and low-quality rice stemming from Thailand and India, the Nhan Dan (People) newspaper quoted the source as saying.
According to the VFA, the reasons for the decline are China's adjustments to its import quota policies and limited transactions, even across the border, and the selling of rice in stock from Thailand and India.
Asia remains the largest continent to import rice from Viet Nam, having purchased some 1.45 million tonnes of the product and accounting for more than 69 per cent of the country's rice export value, followed by Africa and the Americas.
Last month, Viet Nam secured a number of important contracts with key markets such as the Philippines, Malaysia and Cuba, while increasing its market share in the Pacific countries and Africa. — VNS