March rice exports rise in both volume and value.
Nhan Dan Online – Vietnam exported more than 583,000 tonnes of rice in March with a total FOB value of US$256.1 million, up 77.7% in volume and 75.4% in value against February, the Vietnam Food Association (VFA) has reported.
So far this year, the country has shipped 1.2 million tonnes of rice abroad worth US$529.7 million, a decrease of 15.4% in volume against the same period last year.
According to the VFA, the price decrease in the first quarter was due to limited supply and the downward trend in prices in the world market.
The VFA forecasts that the rice exports in April will reach around 700,000 tonnes.
Domestic prices of rice remained high in January and February. The prices fell in early March but later went up by VND3,000 per kilogram after rice companies bought up stock for reserves.
By the end of March, 133 rice exporters had bought 349.2 tonnes of rices for reserves, equivalent to 34.9% of the year’s plan.
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