Rice Exports From Vietnam Beat Thailand on Stockpiling Policy
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Vietnam, the world’s second-largest rice exporter in 2011, shipped 5.82 million metric tons this year through Sept. 27, beating rival Thailand, which is buying the grain from local farmers at above market prices.
Shipments last month through Sept. 27 were 719,619 tons, the Vietnam Food Association said in a statement on its website. Thai rice exports tumbled 45 percent to 4.88 million tons for the year through Sept. 24, according to the Thai Rice Exporters Association. Sales declined after the government implemented its stockpiling program to boost farmer incomes, increasing costs for exporters, according to the group.