Vietnam likely to benefit from China’s cancelation of rice import deal with Thailand

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Vietnam, the world’s second largest rice exporter, is likely to benefit from China’s recent decision to cancel a deal to buy 1.2 million tons of rice from Thailand, the Vietnam Food Association said.

News website Saigon Times quoted an unnamed association executive as saying Vietnam, which missed its export target of 7-7.2 million tons last year, stands a big chance of boosting exports to China this year because of its geographical proximity.

The association forecast that other countries like Myanmar and Pakistan would also try to take advantage of the cancelation, which was announced following a probe into the transparency of rice deals between Thailand and China by Thailand’s National Anti-Corruption Commission.

But it also said China could ink another deal to buy rice from Thailand at lower prices.

Vietnam exported 6.6 million tons last year, down 15 percent from 2012, the year it surpassed Thailand to become the world’s top exporter.

Exports to China, both official and through border trade, exceeded 3.5 million tons.

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