Vietnamese Rice Exports Increase

According to latest government statistics, Vietnam's rice exports in January and February will be almost double the same period last year, thanks to ample supplies and rising global demand.

Truong Thanh Phong, chairman of the Vietnam Food Association, said Vietnam would export 900,000 MT in the first two months of this year, compared to 459,000 MT in the same period in 2008.

The Ministry of Trade and Industry projected higher than usual global demand for rice this year as people in developing countries substitute rice for more expensive foods such as meat, fruit and vegetables.

In 2008 Vietnam exported 4.6 million MT of rice, earning $ 2.9 billion. That was double the previous year's earnings, due to high global prices that hit $ 900 PMT in May.