Indonesia to import rice from Việt Nam

Workers load rice onto a ship docked at Sài Gòn Port. — VNA/VNS Photo Đình Huệ

HÀ NỘI — Indonesia will import 500,000 tonnes of rice from Việt Nam and Thailand to contain rice price hikes and declining supply in the local market.

The imported rice will be of premium quality, not grown in Indonesia; so it will not affect local farmers and rice production, said Indonesian Minister of Trade Enggartiasto Lukita. The country’s current rice stocks were estimated at some 950,000 tonnes, most of which is low-grade rice to be distributed as aid for low-income people.

Meanwhile, rice stocks for commercial purposes were only 11,000 tonnes. Previously, Indonesia’s Vice President Jusuf Kalla had called on the National Logistics Agency (Bulog) to consider importing rice to bring down domestic prices.

According to the National Strategic Food Prices Information Centre (PIHPSN), medium-quality rice is currently fetched at 14,100 IDR or US$1 per kg.

Rice prices vary among regions. West Papua reported the highest price of 14,250 IDR per kg, while the lowest price of over 9,700 IDR per kg was found in West Nusa Tanggara. — VNS

Tags Vietnam news Vietnam news; Indonesia; rice

Masan closes $250 million investment from Bain Capital on April 22

Economy

Vietnamese PM outlines three key breakthroughs for ASEAN's path to digital excellence

Economy

FPT and NVIDIA ink MoU to build $200m AI factory

Economy

Two bidders win the first gold auction this year

Economy

Tra fish export to UAE jumps 67 per cent in Q1

Economy

Việt Nam - an enticing destination for foreign investors: IMF expert

More on this story

Economy

Tax on imported sugar to remain at 5%

The tax on imported sugar, as stipulated by the ASEAN Trade in Goods Agreement (ATIGA), will be maintained at 5 per cent from the beginning of this year, instead of zero per cent as previously rumoured.

Economy

Seafood sector continues to thrive

The seafood sector will strive to exceed this year’s export target of US$8.5 billion set by the Government, the head of the industry's main business group has said.

Economy

VN wants footwear, bags to yield $20b

Việt Nam has set a goal of earning between US$19.5 billion and $20 billion from footwear, bags and suitcases in 2018, up 10 per cent and 12 per cent from 2017.

Economy

PV Oil stakes entice eight foreign investors

Eight investors have registered to become strategic shareholders of the Vietnam Oil Corporation (PV Oil) as of January 10, PV Oil CEO Cao Hoài Dương confirmed on the sidelines of the corporation’s roadshow.

Economy

Peer-to-peer lending gaining traction in VN

Lendbiz Joint Stock Company, which uses a peer-to-peer (P2P) lending model, was recently set up in Hà Nội.

Economy

Whitebook on IUU in Việt Nam released

The Việt Nam Association of Seafood Exporters and Producers (VASEP) yesterday introduced the Whitebook on illegal, unreported and unregulated fishing (IUU) in Việt Nam.

Economy

Việt Nam stocks expected to correct this week

Việt Nam’s benchmark VN Index has extended its growth for a fourth straight week, though recent market trading conditions suggest the benchmark index could struggle with rising selling pressures this week.

Economy

Vietnam Airlines fights for direct US route

National carrier Vietnam Airlines plans to launch the first direct route between Việt Nam and the United States (US) this year, with the destination being either San Francisco or Los Angeles in California.

Economy

Airports corp mishandled $280m

The Government Inspectorate (GI) recently issued a report on wrongdoings at the State-owned Airports Corporation of Việt Nam (ACV) involving VNĐ6.3 trillion (US$280.3 million) and 7.2ha of land.