Huynh Minh Hue, the general secretary of the Vietnam Food Association, said rice exports would be down to 6.6 million tonnes by the end of this year due to decreasing demands from its main customers in Southeast Asia - Indonesia, the Philippines and Malaysia, the Vietnam News reported on Thursday.
Vietnam has targetted to export 6.7 million tonnes of rice this year
Indonesia did not buy at all while the Philippines and Malaysia reduced imports, he was quoted as saying.
The average export price of the Vietnamese rice was US$430.89 a tonne, down $14.50 from last year.
He blamed the situation on the fall in demand in some traditional markets in the second half of the year.
Indonesia did not buy at all while the Philippines and Malaysia reduced imports, he said.
The VFA warned of rising competition next year from lower Thai rice prices and supplies from other rice producing countries, which could dampen global prices.
Mr Hue pinpointed Thailand as a competitor as the kingdom could dump white and fragant rice on the markets.
The VFA continued to keep its next year's forecast on rice exports at 6.5-7 million tonnes.