Vietnam exported 5.55 million tonnes of rice worth 2.56 billion USD in the first 11 months of 2014, according to the Vietnam Food Association (VFA).

News website quoted the VFA as saying that in the first 20 days of November, the nation shipped 190,000 tonnes of rice, and from the first day of this year until November 20, it exported 5.55 million tonnes of rice worth 2.56 billion USD.

The average export price in the first 20 days of this month stood at 474.5 USD per tonne, which was lower than the 486.6 USD-per-tonne price in the same period last October.

At the domestic rice market, the VFA reported that rice prices dropped sharply from November 14 to 20, by 300 VND to 450 VND per kilo to 8,450 VND per kilo for rice with five-percent broken grains, 8,100 VND for rice with 15-percent broken grains, and 7,700 VND for rice with 25-percent broken grains.

This year, Vietnam expects to export 6.5 to seven million tonnes of rice, worth about 3 billion USD, revealed the VFA.

Traditional export markets for Vietnamese rice include Singapore, mainland China, Hong Kong and Cote d'Ivoire, as well as Algeria and Indonesia.

The VFA has also predicted 2015 to be a tough year for Vietnam's rice exporters in the face of fierce competition from their Thai rivals because Thailand has concentrated on recovering traditional rice markets in Africa and expanding its markets in Asia, especially the Philippines, Indonesia and China.-VNA