Vietnam's rice exports earn over 274.6 mln USD in first 2 months
Vietnam shipped abroad 637,756 tons of rice, worth 274.62 million U.S. dollars in the first two mont…Vietnam shipped abroad 637,756 tons of rice, worth 274.62 million U.S. dollars in the first two months of this year, state-run Vietnam News Agency quoted the Vietnam Food Association (VFA) as reporting on Wednesday.
In February alone, the country exported 330,501 tons, earning 147.08 million dollars, up 7.57 percent in volume and 15.3 percent in value.
The average price rose by 29.89 dollars per ton, with the FOB price standing at 445.03 dollars per ton.
According to VFA, about 49 percent of Vietnam's total exported rice was shipped to the Philippines, while China and African countries consumed 28.3 percent and 7.94 percent of the total.
Meanwhile, the domestic rice price was stable but rather high in February and is likely to drop after all rice destined for the Philippines is sent and the harvest peaks, the association said.
Experts said in the first quarter of this year Vietnam has faced fierce competition from Thailand and may suffer great damage if Thailand dumps its rice on the world market, reported the news agency, adding that cross-border trade with China could help Vietnam ensure its sales and keep domestic price stable.
According to the Department for Cultivation under the Ministry of Agriculture and Rural Development, in the 2013-2014 winter- spring crop, the rice bowl of southern Mekong Delta region has a total rice field area of 1.6 million hectares with an estimated output of nearly 11 million tons, with 4.27 million tons ready for export.
In March and April, the region is likely to harvest about 7.5 million tons of rice, the department said.
Meanwhile, the VFA forecast that March's rice export volume will reach 500,000- 550,000 tons.