Update: 16:50 | 13/05/2019
An Giang province-based Loc Troi Group and Tan Vuong Food Joint Stock Company will export 84,000 tonnes of rice per year to China.
The export of rice is under five memorandums of understanding signed between the two companies and their Chinese partners during a seminar on rice trade cooperation between Vietnam and China held in the Mekong Delta province of An Giang last week.
Vietnamese companies will export 84,000 tonnes of rice to China this year.
An Giang annually exports more than 400,000 tonnes of rice to foreign countries, earning about 220 million USD. The province’s rice products have been shipped to 63 countries and territories, including the US, Germany, Spain, Canada, Australia, New Zealand, Japan, Singapore, the Philippines and several Middle Eastern nations.
According to figures from China’s Customs Office, China spent 1.6 billion USD importing rice in 2018, of which 740 million USD on Vietnamese rice, occupying 45 percent of the total.
Earlier this year, Vietnam Southern Food Corporation (Vinafood 2) and Food Valley of China (FVC) inked a memorandum of understanding on rice trade, in which China will import 100,000 tonnes of rice from Vietnam.