HÀ NỘI – The Việt Nam Food Association (VFA) has set the target for rice export at 5.7 million tonnes this year, up 800,000 tonnes from 2016, amid rising global demand. Năng said the Philippines planned to purchase 250,000 tonnes of rice in July and there was a high possibility that Việt Nam would be chosen. Recently, Bangladesh and Việt Nam also signed a memorandum of understanding on rice trade, in which Việt Nam can sell up to one million tonnes of rice to Bangladesh every year. Data from the MARD shows that in the first six months of 2017, rice export reached 2.8 million tonnes worth $1.2 billion, up 6.3 per cent in quantity and 4.9 per cent in value over the same period last year. The increase is considered impressive, given that it declined by 26.5 per cent in volume and 22.4 per cent in value in 2016.

Source: Viet Nam News July 12, 2017 09:22 UTC