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Apr 08, 2014 / 16:10

Rice exports rocket in March

Viet Nam’s businesses exported 583,294 tons of rice in March, up 77.7% in quantity compared to the previous month.

The volume brought home US$256.184 million, up 75.42% against the previous month, according to the Viet Nam Food Association.

Accordingly, in the first quarter, Viet Nam exported 1.219 million tons of rice, earning US$529.777 million.

China was the largest importer of Viet Nam, accounting for 40%, followed by the Philippines, the US and Cuba.

Viet Nam joined four other potential bidders to bid on an 800,000 ton of rice contract with the Philippines, according to the Philippines website .

The Philippines government has set aside a budget of nearly US$383 million to import rice to strengthen rice reserves of the National Food Authority.

LG International Corp, Viet Nam Southern Food Corp and the shipping unit of the French group Louie Dreyfus Co. officially are participating in the bidding process held in Quezon on April 3.

Ludovico Jarina, who heads the bids and award committee, said that the Vietnamese bidders have bought documents for all four lots while the others are targeting only one or two lots.