Vietnam’s rice export has reduced to a ten-year record low this year, reported the Ministry of Agriculture and Rural Development.
Export volume was estimated to reach 4.54 million tons for the last 11 months, dropping 25 percent compared to the same period last year. Value was down 20 percent.
Most businesses have failed to obtain their export targets with a huge volume of rice in stock.
The Vietnam Food Association has been forced to lower this year export target to 5.7 million tons, a reduction of 800,000 tons over plan. However experts said that the country was unlikely to reach the adjusted norm.
At present, China is still the top import market of Vietnamese rice.
