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VietNamNews

Rice exports up 24% on big demand

Update: April, 26/2012 - 10:32

 

Rice is loaded for export by the Cang Long Food Processing Co in the southern province of Tra Vinh. — VNAVNS Photo Dinh Hue
HA NOI — Vietnamese companies have won contracts to export over 4.21 million tonnes of rice so far this year, up 24 per cent year on year, according to a Ministry of Agriculture and Rural Development report.

In March alone, the companies inked deals to ship 1.83 million tonnes of rice, marking a record high within a month. The exports surged 278 per cent against February and 67 per cent against the same period last year, it said.

Traditional importers of Vietnamese rice, including Africa, the Philippines, Malaysia and Indonesia, were once again interested in buying the country's rice. China has also signed contracts to import 770,000 tonnes from Viet Nam.

These positive signs were attributable to the shrinking stockpiles of rice in many countries, an increasing demand and late deliveries by some other major rice exporters, the report said.

So far this year, businesses have exported 1.5 million tonnes of rice for a free-on-board value of $709 million, according to the Viet Nam Food Association (VFA).

Viet Nam's rice exports last year rose to a record high of 7.1 million tonnes for an FOB value of $3.5 billion, presenting a year-on-year increase of 5.2 per cent in volume and 20.43 per cent in value, VFA statistics revealed.

This year, it expects to ship abroad about 6.5-7 million tonnes of rice with a focus on high quality.

The country must offer competitive prices, quality and other export conditions in order to promote exports, VFA general secretary Huynh Minh Hue said. The VFA planned to promote exports of high-grade rice and limit low-grade rice that could not compete in price with Indian and Pakistani products, he noted.

The VFA has also set up reasonable floor prices for export rice to promote high quality. It expected to increase the purchase of rice after the winter-spring harvest. — VNS

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