Rice exports off to a good start for January

Statistics released by the Ministry of Agriculture and Rural Development (MARD) show that rice exports for January surged 56.7% year-on-year in volume to 495,000 metric tons and 46% in value to US$218 million.

A lot could change, but Huynh The Nang, president of the Vietnam Food Association, is bullish on exports for the next six months based on negotiations underway with buyers from several key markets.

The Philippine National Food Authority says it has plans to purchase 50,000 metric tons said Vietnam and Thailand buyers have strongly indicated they are going to place a large order soon to add to disaster inventories.

In addition, negotiations are underway with the Indonesian government buyers to acquire 350,000 metric tons of rice during the first quarter of the year.

VOV