Vietnam exported 1.31 million tons of rice, earning US$616 million during the first three months of 2014, according to the Ministry of Agriculture and Rural Development.
In March alone, the country shipped 524,000 tons of rice abroad, gaining US$243 million in export revenue.
The export price of rice in February enjoyed a year-on-year increase of 8%, reaching US$486.5 per ton.
In the first two months of the year, Vietnam’s rice sold to the Philippines saw a seven fold rise in quantity and 7.7 fold rise in value compared to the same period last year.
The Philippines has become Vietnam’s largest rice importer, accounting for 46.95% of market share, followed by China (23.91%) and Hong Kong (3.8%).
The Vietnam Food Association (VFA) forecasts that Vietnam will export around 8 million tons of rice this year.
VGP
1.31 Million Tonnes of Rice Exported in Q1 Related image(s)
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