July alone saw 584,000 tonnes of rice sold abroad for more than US$ 240 million, which was the highest monthly volume so far this year, with most of the rice shipped to China, Bangladesh and Africa.
China remains Vietnam’s top rice importer, accounting for 40.65 percent of the total rice export, followed by the Philippines, Malaysia and Singapore. Shipments to Africa experienced a slight rise, making up 15.3 percent of the market share.
The VFA forecast that the global rice market will be led by high demand from Malaysia, Bangladesh, the Philippines and Sri Lanka. However, large rice exporters like Thailand, India and Pakistan are entering their main crop harvest, which will affect the rice market in the coming time.