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Hong Kong rice traders seek partners

Update: February, 29/2012 - 10:39

HCM CITY — A mission of more than 40 members of the Hong Kong Rice Merchants Association yesterday began a five-day visit to Viet Nam seeking business opportunities with local exporters.

After a meeting with potential business partners yesterday in HCM City, organised by the Sao Khue Investment and Trade Promotion Organisation, the mission will go on fact-finding trips to rice fields and processing plants.

For Vietnamese businesses, it is an opportunity to find new partners and increase exports to the market.

"Viet Nam has become a very important rice exporting country for Hong Kong. In the past four years, the percentage of Vietnamese rice imported by Hong Kong has dramatically increased from less than 1 per cent in 2007 to almost 30 per cent in 2011. Last year, almost 100,000 metric tonnes of Vietnamese rice was exported to Hong Kong, making up one third of Hong Kong's total imported rice, " said Kenneth Chan, chairman of the Rice Merchants' Association of Hong Kong.

On average, Hong Kong imported 320,000 tonnes of Vietnamese rice per year.

He said at present, Viet Nam was the second largest rice exporting country after Thailand. However, the association's members still had limited knowledge about Vietnamese rice and the culture of Viet Nam's rice trading, so this trip would be very useful, he added.

Viet Nam expects to ship 6.5 million tonnes of rice this year. — VNS

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