Vietnam Import Export News

Advertisements

Random Post

• Vietnam used car market enjoys high popularity
• 15 billion Yen for small and medium sized enterprises
• Khang Dien SG starts work on apartment project
• Hanoi Stock Exchange plans to introduce a new platform to handle government bond trading
• South Korea Firms Seek Investment Opportunities in Vietnam
• More than a few industrial zones stand empty

Vietnam Import Export News

Vietnam Business » Vietnam Import Export News » Rice exports will total 6 million tonnes this year

Rice exports will total 6 million tonnes this year

About 4.1 million tonnes has already been shipped, earning 2 billion USD, a decline of 2.5 percent in volume from the same period last year but an increase of 3.6 percent in value, according to ministry figures. Prices have risen on rumours that China might be facing a shortage and was rushing to boost imports from Vietnam - including unofficial trades at border gates.

Rice exports will total 6 million tonnes this year while domestic food security is still ensured, deputy minister of Industry and Trade Nguyen Thanh Bien told reporters here on Aug. 10. Prices have risen by 500-1,000 VND (0.026-0.053 USD) to around 4,200 VND/kg for low-quality rice, 4,800 VND/kg for medium-quality rice, and 5,500 VND/kg for high-quality rice. These prices were unlikely to last long, Bien said, as distributors such as Saigon Co.op Mart and the Southern Food Corporation, among others, have sufficient rice reserves to meet demand. The Vietnam Food Association has guided these companies to stockpile to help stabilise the market and ensure national food security, said association chairman Truong Thanh Phong. The Northern Food Corporation has reserved over 300,000 tonnes of rice and the Southern Food Corporation over 600,000 tonnes, while smaller distributors held stockpiles of 400,000 tonnes, Phong said. While the winter-spring crop totalled 18 million tonnes, the summer-autumn crop would likely bring in about 8.25 million tonnes, according to the director of the cultivation department of the Ministry of Agriculture and Rural Development, Nguyen Tri Ngoc. He predicted next seasons winter-spring crop would total an additional 13 million. According to unofficial sources, China had imported 600,000 tonnes of rice from Vietnam in the period from April to July. A certain amount of Vietnamese rice was exported to China via unofficial trade at border gates, and the ministry did not have an official figure to represent this trade, Bien admitted, offering the reassurance that such trades were well within the control of the ministrys market watch group. There has been no spike in the official export volume between the two nations, he added. " Vietnam does not have any policy to discriminate against or restrict certain countries from importing our rice," Bien said. "If China has demand, we will still export, and the unofficial trade between the two countries is still undertaken in accordance with current regulations.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

More Vietnam Import Export News:

• Petro Vietnam Group plans BPs share
• Vietnam rice exports reach 6.5 million tonnes in 2010
• Vietnam export 4 million tonnes of rice
• U.S. Department of Commerce Ups Ante for Vietnam shrimp exporters
• Businesses weary of revised automatic import license procedure
• Philippines calls halt to rice purchases through end-2010
• Philippines rice import delay wont hit Vietnam
• Agency warns against frauds in Europe-bound bike exports
• Japanese investors stay put in Vietnam
• Wood products exports increase in seven months

Popular Vietnam Business News

Vietcombank H1 Pretax Profit of VND2,450B Meets 75 per cent of Year's Target

The Joint Stock Bank for Foreign Trade of Vietnam (VCB) made pretax profit of VND2,450 billion in the first half this year, fulfilling 75 per cent of its yearly target,

Bank For Agricultural Of Ho Chi Minh City

These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories. -- Partly private Dong A Bank said it made a

PetroVietnam Asked to Rebuild Financial Plan for Dung Quat Refinery

The US$3.1-billion refinery has to date produced gasoline A92, kerosene, diesel oil, and liquefied petroleum gas (LPG) for the market. The plant had sold a total of 5,630 tons of

Sheraton set for Nha Trang market entry

The Sheraton Nha Trang, located in the central coastal city of Khanh Hoa Province, will host its soft opening on March 19 to welcome both business and leisure travellers. The

Dana - Italy Steel JSC applies for listing shares on northern bourse

Hanoi Stock Exchange (HNX) announced to receive application profile for listing 15 million shares of Dana - Italy Steel Joint Stock Co on March 19, 2010. The company with chartered

Low-income Apartment Segment Attracts Investors

While the apartment block segment has not yet seen recovery; low-cost houses are attracting speculators attention, which has helped to form a sudden price hike in realty in the west

Vietnam garment exports set to rise as industry holds line on prices

Viet Nams garment industry has a worldwide reputation for making competitively priced and high quality garments, a survey conducted by the US-based non-profit group Kearny Alliance has found.

Vienam eeal estate developers race to build skyscrapers

Thirty-seven, sixty-eight, seventy, even 102 storeys - in Hanoi and Ho Chi Minh City, bigger and bigger buildings are reshaping the skyline. Most skyscraper projects have been developed by heavyweights

Advertisement