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Rice export earning doubles
Vietnam ’s earnings from rice exports reached 1.5 billion USD in the first half of this year, almost double the figure of the same period last year, though the rice export volume was up by only 6 percent to 2.5 million tonnes.
According to the General Statistic Office and the Ministry of Agriculture and Rural Development, rice is now Vietnam ’s fifth largest foreign currency earner, representing about 20 percent of the country’s total agriculture, forest and aquatic product export value.
The bumper harvests in both southern and northern regions promise a total output of 37 million tonnes of paddy this year, more than 1 million tonnes over last year. Therefore, the government is likely to raise rice export quota this year to 4.5 million tonnes, equal with the figure of last year. The domestic rice market is also expected to cool down.
Businesses have signed contracts for exports of 3.5 million tonnes of rice in the first nine months of this year.
Prime Minister Nguyen Tan Dung has asked the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development to assist businesses in purchase and export of rice.
Commercial banks are also required to ensure capital for rice exporters.
Rice production became one of the hottest issues in the first months of this year as farmers in northern provinces faced many challenges, including serious droughts, the most severe cold spells in the past 40 years and the increases of materials prices.
The government earlier this year had to order a temporary stop to the signing of rice export contracts to ensure national food security.
VNN
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