The Southern Food Company (Vinafood 2) said it has signed a contract to export 200,000 tonnes of rice to Malaysia at 410 USD per tonne.

The rice will be delivered in July, August and September this year.

Vinafood 2 Director General Huynh The Nang said the contract is a sign that Vietnam’s rice is gradually regaining its place in the Asian market. Earlier, some Vietnamese exporters also won contracts to sell rice to the Philippines and Bangladesh.

The country exported 1.932 million tonnes rice in the period from January to mid-May, earning 845.38 million USD, according to data from the Vietnam Food Association (VFA).

The VFA has lowered the 2014 rice export target to 6.2 million tonnes from the earlier target of 6.5 – 7 million tonnes due to heavy competition from India and Thailand.-VNA