Record high for Vietnam rice exports

- Last updated on GMT

Vietnam is expected to export 7.7m tonnes of rice in 2012, setting a 20-year record high due to increased export orders in the last months in 2012, according to the Vietnam Food Association (VFA).

Truong Thanh Phong, its chairman, said that in November alone, the number of new orders had increased 11% over the same period last year. So far, the country has signed contracts to export 8m tonnes of rice, up 10% year-on-year.

In the first 11 months of this year, Vietnam exported over 7m tonnes of rice at an average price of US$445.56 per tonne, pocketing nearly US$3.2bn, said VFA.

Compared to the same period last year, the country's rice export volume increased over 5.5%, while export price was down by an average of US$43.3 per tonne.

During the period, the amount of high-quality rice export accounted for over 3.3m tonnes, up 78% year-on-year, according to VFA.

The increase in quantity of high-quality rice greatly contributed to raising the average export price and purchasing price, benefiting farmers to the tune of over 30%, Phong said.

In 2011, Vietnam exported over 7.1m tonnes of rice.

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