In order to ensure domestic food security, Vietnam has decided to cease signing any new rice export contracts until next year.

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 is expected to produce 35.5 million MT of paddy rice in 2007.