Vietnam's Rice Output Likely To Reach 37 Mil MT

According to a preliminary statistic from the Ministry of Agriculture and Rural Development, Vietnam's rice output for the current year is estimated to reach around 37 million MT, one million MT more than last year.

With the estimated rice output, after balancing domestic demands and the national reserve, the rice volume for exports are also likely to climb up to more than 4.5 million MT.

Despite falling prices globally, Vietnamese rice exports still enjoy favorable conditions thanks to increasing demand for rice on the world market. The Food and Agriculture Organization (FAO) has forecast that rice prices will continue to rise to hit a record high in 2009.