Vietnam has exported 7 million to 8 million metric tons of rice this year, the country’s media reported on Friday.
This year’s rice production will be 27 million to 28 million metric tons, Agriculture Minister Lu Minh Hoan said in a statement cited by Vietnam News Agency.
Hohn said production was sufficient to ensure domestic food security, making it the world’s third-largest rice exporter after India and Thailand last year.
Rice exports from Vietnam in the first seven months of this year rose 21% from a year earlier to 4.89 million tonnes, according to government data. Last year its export was 7.1 million tonnes.
India, which accounts for more than 40% of global rice trade, last month ordered domestic prices of its biggest export category to calm, sending global prices to a 15-year low and stoking concerns about already high global food inflation.
The price of Vietnam’s 5% broken rice was $630-$640 per metric ton on Friday, traders said, as exporters anticipated further price hikes.
Vietnam’s trade minister last week said rising global rice prices offered an opportunity to increase exports, but stressed the need to ensure domestic food security.
(Reporting by Khan Woo; Editing by Kanupriya Kapoor)
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