VN rice exports hit 3-year high

The price of Vietnamese export rice has hit a three-year high thanks to the rising import demands and the restricted supply source.

Domestic price hike hurts VN rice exporters

The abnormal surge in domestic rice prices in this year’s winter-spring crop has caused some rice exporters, who had signed export contracts before the harvest season, to suffer losses during the first quarter.

Struggling farmers need actions, not words After five years of implementing the Party Central Committee's Resolution No 7 on agriculture, farmers and rural development, weaknesses remain in the agricultural sector, according to the Ministry of Agriculture and Rural Development (MARD).

Large stocks help steady rice prices Viet Nam rice traders have purchased 1 million tonnes of the grain for reserve for the 2012-13 spring-winter crop.

Government buys boost Delta rice prices A programme to buy 500,000 tonnes of rice for temporary reserves has increased the price of paddy by VND250-300 per kilo in the Mekong Delta, according to the Viet Nam Food Association. Dried paddy price is selling for VND5,000-5,200 per kilo in An Giang Province, and VND5,000-5,100 a kilo in Dong Thap, Vinh Long and Tien Giang provinces. After seven days of implementation of the programme, companies have purchased about 10-15 per cent of the reserve quantity.

Farmers, traders in paddy price war Large volumes of paddy harvested from the winter-spring crop remain unsold as traders and farmers in the Cuu Long (Mekong) Delta haggle over prices.

SBV allows rice exporters to borrow from banks The governor of the State bank signed an official document yesterday, allowing commercial banks to lend money to rice exporters to buy rice even if the exporters have not signed any contracts.

Rice exporters lament fixed-price contracts Although rice prices are rising in the global market, exporters complain they are suffering losses due to higher paddy prices and the strengthening Vietnamese dong.

Dollar's decline comes at cost Local exporters have been hard hit by the dropping value of the dollar, which has been trading at below VND16,000.

Rice exports claim higher prices The average export price of Vietnamese rice has gone up to US$293 per tonne, a rise of $42 compared with last year and higher than the price of Thai rice, according to the chairman of the Viet Nam Food Association, Truong Thanh Phong.