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VN rice exports plunge

Jul 12. 2016
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By Viet Nam News

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HANOI - Vietnam’s rice exports in the first half of the year fell by 32 per cent from the same period last year, mostly due to competition from other countries, according to the Vietnam Food Association.

Besides Myanmar, Pakistan and India, Vietnamese exporters had to contend with Thailand selling off a huge stockpile of its rice.

In the first quarter, rice exports soared more than 50 per cent, mostly because of contracts signed last year.

But with domestic rice prices higher than global rice prices in March and April, many domestic enterprises were unable to sign new contracts, leading to a fall in exports in the second quarter.

Asian countries remained the main buyers, taking 67 per cent of total rice exports, followed by Africa with 16.4 per cent and the Americas with 11.9 per cent, according to a report released at an association meeting held last Friday. 

 

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