Vietnam Import Export News

Advertisements

Random Post

• Agro-forestry and aquatic exports pick up
• A single poverty reduction programme for 2011 to 2020
• IEP Ranks Vietnam 38th in Global Peace Index 2010
• Vietnam GDP growth of nearly 6 percent in Q1
• HCM Citys CPI rises slightly in June
• Vietnam Boosting Exports to Middle East, Africa

Vietnam Import Export News

Vietnam Business » Vietnam Import Export News » Vietnam may export 7 million tons of rice

Vietnam may export 7 million tons of rice

In a recent interview given to Thoi bao Kinh te Vietnam, Nguyen Tri Ngoc, Director of the Cultivation Department, a unit of MARD, said that the high rice output and big stocks are both factors that cause many people to believe that Vietnam can export 6.5-7 million tons of rice in 2010.

Vietnams rice export volume in 2010 may reach 6.5 million tons. Vietnam may consider exporting seven million tons of rice this year, according to the Ministry of Agriculture and Rural Development (MARD).

Thoi bao Kinh te Vietnam: The Vietnam Food Association (VFA) has unexpectedly proposed to increase the rice export volume by 0.5 million tons. Will local production be able to meet the demand for domestic consumption and exports?

Nguyen Tri Ngoc: To date, Vietnam has harvested 26 million tons of rice from the winter-spring and summer-autumn crop, and we expect to have 13 million tons of rice more from now to the end of the year. It is highly possible that the rice export volume in 2010 could reach 6.5 million tons, while we can think of exporting up to seven million tons.

Vietnam exported six million tons of rice last year, and we still had one million tons left which allowed us to take the initiative to export rice in the first months of 2010. The rice output continues to increase this year. Besides, we also have rice brought in from Cambodia. Our farmers hire fields in Cambodia to cultivate rice and then bring the rice to Vietnam. The volume of rice brought from Cambodia was 300-400,000 tons last year, while we expect to have one million tons of rice from this source.

To date, Vietnam has exported more than four million tons of rice. Meanwhile, the Northern and Southern Food Corporations (Vinafood 1 and Vinafood 2), the two biggest food corporations, still have 1.1 million tons in stocks, and other companies have some 300,000 tons. From now to the end of the year, we will have rice from 300,000-500,000 hectares of fields every month. Therefore, even if we raise the export volume to 6.5-7 million tons this year, we will still be able to provide enough rice for domestic demand and export.

However, we need to be cautious because of possible weather calamities. Storms and rains will come in the next few months. Every year, we bear 7-9 storms, while we have seen two storms so far this year, which means that some five storms could still come. We will cooperate closely with the Ministry of Industry and Trade and VFA to keep watch over rice production, so we can give timely decisions on export volume.

Thoi bao Kinh te Vietnam: What are the biggest problems in rice production at the moment?

Nguyen Tri Ngoc: We are trying to reduce the area used for growing IR 50404, because it is difficult to sell this kind of rice. The problem is that the area for growing IR 50404 accounts for a big proportion of the area used for rice production in most regions. Low quality rice is still being purchased by Chinese merchants, but this just a temporary situation. If Vietnam continues producing low quality rice, we will not be able to sell it.
Previously, Vietnamese farmers only had two crops a year. However, farmers have been trying to cultivate more crops a year. Therefore, more pestilent insects have appeared, while farmers may meet storms and flood, which means high risks for farmers. It is necessary to re-arrange crops to minimize the negative impact of weather and pestilent insects.
Thoi bao Kinh te Vietnam: The world has been warned about a possible food shortage in the time to come. Is this a worry for Vietnam?

Nguyen Tri Ngoc: Vietnam does not have to worry about the rice supply, but it is lacking other kinds of grain used for animal feed. We now have to import big volumes of maize and soybean oil-cakes. If we cannot increase the cultivation and reduce the production cost of maize and soybean, the pressure on the husbandry sector will become more serious. We hope to have a capacity of 6-7 million tons or maize a year.

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

More Vietnam Import Export News:

• Rice exports will total 6 million tonnes this year
• 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

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