The Vietnam Food Association (VFA) has planned to export 1.6 million tons of rice for the second quarter of this year, 200,000 tons lower than the initial plan.

This is attributable to the implementation of the signed contracts and the impact of drought and saline intrusion which make rice yields to fall.

Rice exports in the first quarter saw positive results. The country shipped 1.59 million tons of rice to get US$692 million in the period, up 41.6% in volume and 40.8% in value against the same period last year.

The VFA attributed the sharp increase in the first three months to the implementation of G-to-G contracts signed with Indonesia and the Philippines last year and newly signed contracts with China.

According to VFA, the export prices of Vietnamese rice also stood higher than those offered by other suppliers in Asia and Vietnam’s rice exporters are likely to lose competitive edge and market shares in the coming time.

Rice exports in the first half of this year are expected to hit over 3 million (excluding the volume exported through illegal channels), up 12% against the corresponding period last year.

VOV