Vietnam plans to increase its rice exports from this month after Thai rice export prices shot up by 60 percent, opening the market for cheaper yet better quality Vietnamese rice.
|Vietnam will increase its rice exports from this month. (Photo: KK)|
This will also be an opportunity for Cambodia, Myanmar and India to become top rice exporters in the world.
According to Pham Van Bay, standing deputy chairman of the Vietnam Food Association, Vietnamese rice has an advantage as it is cheaper and better in quality than Indian, Pakistani, Thai or Myanmar rice.
Vietnam will export 150,000 tons of rice to Malaysia until 2012 at US$570-580 per ton. The country has already exported 1.8 million tons to Malaysia this year.
Many Thai rice enterprises have bought Vietnamese fragrant rice to mix with their own brand to enhance the quality and fragrance, before exporting to other countries.