China increases rice imports from Vietnam

Local media reports have quoted the vice chairman of the Vietnam Food Association (VFA), Pham Van Bay, as confirming that China has stepped up rice buying from Vietnam, having signed contracts for up to 200,000 MT so far this year, excluding the border trade amount. Bay said that if he was right, this was the first time China had bought such a large amount of rice from Vietnam. Meanwhile, Japan is still weighing buying Vietnam rice, Bay said, adding, "The possibility of Japan buying 250,000 MT of rice from Vietnam remains unclear." According to VFA, the country has exported 2.2 million MT of rice this year, earning more than US$1 billion, up 26% in volume and 28% in value from the same period of last year. - Oryaza