Ncdex Updates

As per the latest release from Vietnam Food Association's (VFA's), Vietnam's rice exports from the beginning of the year to October 16 have reached over 6.1 million tonnes, closer to the new export target of a record 7.5 million tonnes, up about 5% or 400,000 tonnes from last year.

After a slow start this year, Vietnam's rice exports have been steady helped by increased exports to China, and also to Indonesia and the Philippines, in part due to its competitiveness compared to more expensive Thai rice. However, increasing exports and lower supplies are now pushing average prices of Viet rice higher.