Vietnam has signed contracts to export more than 4.2 million tonnes of rice so far this year, up 24 percent compared to the same period last year.

The Ministry of Agriculture and Rural Development (MARD) reported that in March alone, the country signed contracts to ship abroad more than 1.8 million tonnes, a record high within a month, up 278 percent against February and nearly 68 percent against March 2011.

Traditional importers of Vietnamese rice, including Africa, the Philippines, Malaysia and Indonesia, are once again interested in buying the country’s rice. China, the world’s most populous country, has also signed deals to import 770,000 tonnes from Vietnam.

These positive signs are attributed to the shrinking stockpiles of rice in many countries, an increasing demand and late deliveries by some other major rice exporters such as India and Pakistan.

The Vietnam Food Association said that as of March 31, Vietnam had exported over 1.08 million tonnes of rice valued at more than US$530 million.

Currently, the price of 5 percent broken rice ranges from VND8,550-8,650 per kilo, 15 percent broken rice sells for VND8,050-8,150 per kilo and 25 percent broken rice is priced at VND7,450-7,550 per kilo

(VOVNEWS)