According to Nguyen Xuan Chien, Deputy Director of the Domestic Market Department under the Ministry of Industry and Trade, by April 30, 2013, Vietnamese enterprises had signed the contracts on exporting 4.2 million tons of rice, an increase of 9.92 percent in comparison with the same period of 2012. Vietnamese exporters would need to deliver 2.08 million tons from May under the signed contracts. With the high volume of contracted exports, Vietnam will not have high inventories. However, high risks have been existing. The importers from China, the vast market which consumes 1/3 of Vietnam’s total rice exports, have been trying to force the prices down, or threaten to cancel contracts…Full-text article: Vietnamnet Bridge May 2013

Key point

  • From January to April 2013, 64% of Vietnam’s canceled rice contracts were with Chinese partners

ChinaAg Comment

  • From 2006 to 2011, Thailand was the primary supplier of rice to the China. Starting in 2010, a shift towards Vietnamese imports began to occur and by 2012, Vietnam overtook Thailand as the top supplier to China

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