Phl to become Vietnam's biggest rice importer in first two months
HANOI (Xinhua) - Vietnam's rice exports to the Philippines posted a dramatic increase in the first two months this year - 8.8 times higher in volume and 9.5 times higher in value on a yearly basis, the government said today.
A report of the country's Ministry of Agriculture and Rural Development said the Philippines replaced China to become Vietnam' s largest rice importer in the two months, accounting for 53.5 percent of Vietnam's rice market shares.
In the two months, Vietnam earned $330 million from exporting 702,000 tons of rice, down 12.3 percent year-on-year in volume and 8.4 percent in value, said the report.
The Philippines was followed by China and China's Hong Kong which took market shares of 16 percent and 4 percent, respectively.
The Vietnam Food Association projected the country's rice exports would continue to face strong competition from Thai rice this year.
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