Vietnam rice exports increase

Vietnam market drops on first day after lunar New Year Hanoi - Vietnam's rice exports in January and February will be almost double the same period last year, thanks to ample supplies and rising global demand, government officials said Tuesday.

Truong Thanh Phong, chairman of the Vietnam Food Association, said Vietnam would export 900,000 tons in the first two months of this year, compared to 459,000 tons in the same period in 2008.

The Philippines would import a total of 500,000 tons by the end of February. The country is Vietnam's biggest rice customer, having ordered 1.5 million tons for 2009.

"We plan to export between 4.5 million and 5 million tons of rice this year," said Deputy Minister of Trade and Industry Nguyen Thanh Bien.

The Ministry of Trade and Industry projected higher than usual global demand for rice this year as people in developing countries substitute rice for more expensive foods such as meat, fruit and vegetables.

In 2008 Vietnam exported 4.6 million tons of rice, earning 2.9 billion dollars. That was double the previous year's earnings, due to high global prices that hit 900 dollars per ton in May. (dpa)

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