Vietnam Likely To Exceed Export Target

According to government officials, Vietnam's rice exports are likely to increase to 6 million MT, surpassing this year's target, due to an abundant spring-winter crop.

According to the Vietnam Food Association, the country exported more than 3.6 million MT by the end of June. The average price was $ 392 PMT.

The state-run Nong Nghiep Vietnam newspaper said the government had set an export target of 4.5-5 million MT. But exports are now expected to exceed the record of 5.3 million MT in 2005. Vietnam resumed rice exports in 1989.

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