World Economy

Less Demand for Vietnam Rice

Less Demand for Vietnam RiceLess Demand for Vietnam Rice

Vietnam’s rice exports could fall 27% in 2016 from last year to 4.75 million tons, the lowest since 2008, due to less overseas demand and rising supplies from Thailand, a state-run newspaper said on Monday, Reuters reported. It cited the Vietnam Food Association as revising down its forecast for the second time this year, from 5.7 million tons as projected in June. Vietnam’s 5% broken summer-autumn rice eased to $350-$353 a ton on Monday, free-on-board basis, from $355 last week, but overall demand remained week, traders said.