The Vietnam Food Association (VFA) reports that Vietnam has so far this year signed contracts to export 3.6 million tonnes of rice.
The number of contracts with Chinese importers has increased and Vietnamese rice exporters continue to do well in traditional markets such as the Philippines and Malaysia .
Due to these optimistic signs the VFA has raised its estimate of its rice exports this year.
Five percent broken rice now sells at 450 USD a tonne and 25 percent broken rice now costs 425 USD a tonne, up by 15-25 USD.
The VFA recommends that farmers should increase the amount of high qualityrice they produce in the Autumn- Winter crop./.