Vietnam Exports 2.9 Mln Tons of Rice

Vietnam exported over 157,700 tons of rice worth 121.9 million U.S. dollars in the first half of this month, raising the total export volume so far this year to nearly 2.9 million tons valued at roughly 1.7 billion dollars, local newspaper Labor on Thursday quoted the Vietnam Food Association as reporting.

The association and local rice exporters said the global demand for rice would surge in late 2008. Major local exporters are advised to increase paddy rice storage capacity.

Early this month, the Vietnamese government urged relevant sectors and enterprises to intensify purchase of rice grown in the southern Mekong Delta and delivery of rice for export, and sign new contracts so that 4.5-4.6 million tons of the commodity would be shipped abroad this year.

Vietnam sold overseas 4.5 million tons of rice worth nearly 1.5 billion dollars in 2007, down 3.1 percent in volume but up 13.9 percent in value against 2006, according to the country's General Statistics Office.