Indonesia demand boosts Vietnam's rice exports

indonesia demandVietnam's Ministry of Agriculture and Rural Development said that the country's export of rice rose nearly 40 per cent in value in the first four months of 2018 due to demand from Indonesia

The country's rice exports rose to US$1.11bn in value and 23.8 per cent to 2.2mmt in the first four months.

Agriculture is one of Vietnam's dominant industries with coffee, rubber, cashew and rice being the dominant crops.

The ministry said that its contract to deliver 141,000 tonnes in January and 300,000 tonnes in April to Indonesia were the main factors in boosting rice exports.

Vietnam is also seeing demand from newer markets such as Bangladesh, Turkey and Iraq.

The ministry expects to sign "a number of" rice contracts worth "hundreds of thousands of tonnes in volume" with private companies in May.

Vietnam is also looking to sign deals with the Republic of Korea and Australia, according to the Vietnam Food Association (VFA).

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