By the end of January 2012, Vietnam had exported 400,000 tonnes of rice to earn USD 240 million, marking a 25.4 percent decrease in volume and a 14.2 percent reduction in value compared to January last year, according to rice export results announced by the Ministry of Agriculture and Rural Development (MARD).

  The main cause of this decrease was difficulties on the market and a downward trend in export prices. In addition, the long New Year and Lunar New Year holidays also affected export activities

 Also according to MARD, Vietnamese traders have not signed as many new contracts because prices of Vietnamese rice were higher than that of other exporters, such as India and Pakistan.

 The ministry forecast that rice export volume in 2012 will be around 6.8-7.3 million tonnes. A reduction in rice export volume was forecast for theworld’s two largest rice exporters of Vietnam and Thailand in 2012. While Vietnam will see a decrease of 300,000 tonnes in rice export volume, the figure for Thailand will be 2.5 million tonnes./.

 

(CPV)