HANOI:Vietnam's rice exports in the first quarter of 2012 fell 32.1 percent year on year to an estimated 1.3 million tonnes, still higher than industry forecasts, the Agriculture Ministry said on Sunday.
Rice export revenue in the January-March period fell 29.5 percent year on year to an estimated $681 million, the ministry said in its monthly report seen by Reuters.
An industry official forecast at the start of March that exports could fall 44.4 percent to 1 million tonnes, according to a government report.
Rice fromVietnam, the world's second-largest exporter, is facing competition fromIndia,MyanmarandPakistan, the agriculture ministry's report said.
Shipments in March are seen rising to 600,000 tonnes from 449,000 tonnes loaded in February, the ministry said.
Traders said rising demand from China, along with an industry buying scheme, has been keeping Vietnamese rice prices firm even after a major harvest peaked in the Mekong Delta province.
China could see a threefold jump in rice imports from Vietnam this year, industry officials said on March 19, as the world's biggest consumer steps up purchases to contain domestic prices.
Vietnammay snatch the title of world's top rice exporter fromThailandthis year, saying it aims to match last year's record shipments of 7.2 million tonnes, helped by strong demand and a positive outlook for domestic production.
Thailand, which has been the world's biggest exporter for three decades, looks set to see exports fall sharply to 7 million tonnes at most this year.
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