Vietnam rice exports down in volume, value

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 Workers load rice onto a ship for exporting / FILE PHOTO

As of November Vietnam's rice exports had plunged 16 percent in volume and 19 percent in value compared to the same period last year, according to the Ministry of Agriculture and Rural Development.

A Thoi bao Kinh te Saigon (Saigon Times) online report cites the ministry as saying Vietnam exported 6.3 million tons of rice and earned revenues of US$2.78 billion in the first 11 months this year.

The fall in revenue has happened despite the price of Vietnamese rice going up $9 per ton year on year to nearly $440 dollars per ton on average in the first 10 months .

According to the ministry, China remained one of Vietnam's biggest rice buyers, consuming more than 30 percent of the country's exports with revenues of over $800 million.

This was an increase of more than 5 percent in volume and more than 2 percent in value over the same period last year.

Vietnam's actual rice exports to China is likely to be higher than reported, because official figures do not account for cross-border trade, the news report said.

The Vietnam Food Association early this month estimated Vietnam's border export of rice to China could reach 1.5 million tons this year.

China is also among leading importers of other produce from Vietnam like vegetables and cashew nuts, the ministry reported.

Vietnam exported $25.25 billion worth of farm, forestry and aquaculture products in the first 11 months, it said.

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