Vietnam's Rice Exports up 26.5 per cent in Jan-February

Vietnamese companies are estimated to have shipped 331,000 tons of rice in the first two month of 2008, earning US$130 million, up 26.5 per cent on year in volume and 53.9 per cent in value, the General Statistics Office reported.

In February, the companies exported 200,000 tons valued at US$79 million, up 34.5 per cent in volume and 35.5 per cent in value compared to the previous month, when they shipped 131,000 tons and raked in US$51 million.

The Vietnam Food Association said almost of the exported rice was of the contract signed December 21, 2007 to sell 410,00 tons to the at prices of US$372 a ton, FOB, on average.

The association said export prices of Vietnamese rice have kept soaring over the past week. They took at US$460 a ton of 5 per cent broken rice, and US$418 a ton of 25 per cent broken rice February 27, up by US$30 or US$40 a kilo from a week earlier.

At local market, paddy prices are around VND3,800 or VND4,200 a kilo.

As of middle February, farmers in southern provinces had harvested 256,700 hectares of winter-spring paddy, up 1.7 per cent. (GSO February Edition, Economic Times)