Vietnam To Increase Export Target for 2008

Vietnam is likely to export 4.8 million MT of rice in 2008, up from over 4.7 million MT in 2006 as the country's paddy rice output forecast is expected to reach  36.5 million MT.

Vietnam, the world's second largest rice exporter, sold overseas nearly 3.6 million MT of rice worth roughly 1.2 billion U.S. dollars in the first eight months of this year, down 4.8 percent in volume, but up 12.2 percent in value over the same period last year.

Vietnam has ceased signing of any new rice export contracts until next year, to ensure domestic food security.