Vietnam Rice Exports Surge 40% On Year

According to statistics released by the Vietnam Food Association (VFA), the country's rice exports over the first nine months of 2009 rose 40 % over the same period last year, due to ample supplies and rising global demand.

Exports for September hit 401,000 MT, valued at 149 million US$, compared with 342,000 MT and 221 million US$ in September 2008.

The government initially set an export target of 4.5 to 5 million MT for 2009, but decided in June to raise it to 6 million MT due to a bumper spring-winter crop.