Vietnam lowers 2011 rice export target
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Rice shipments from Vietnam, the world’s second-biggest exporter, may total about 6 million tons this year, a year-on-year fall of 11 percent, according to Vietnam Food Association (VFA).
The association cited unfavorable weather conditions and reduced acreage of farmland devoted to rice farming in the Mekong Delta region as major reasons for the decrease in supply.
Vietnam shipped 6.8 million tons of rice last year, bringing in US$3.2 billion in revenue. It was seen as an impressive year as rice exports surged in both output and value.
World rice demand will rise from 29 million tons last year to 31 million tons in 2011 as many countries have announced plans to increase their imports.
