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Bumper crops boost rice exports
Rice exporters in Vietnam have signed contracts until September to bring total rice exports to 3.5 million tones, according to the Vietnam Food Association (VFA).
With bumper crops in both the northern and southern granaries, the country is expected to reap a total of 37 million tones of rice this year, one million tones more than in 2007, said the VFA.
To create more favourable conditions for enterprises purchasing rice for export, the Government has permitted a delay in the collection of taxes on rice exports with a price level of below US$800 per tonne, the Ministry of Finance said.
The Ministry of Industry and Trade has also asked the association and its members to enhance the signing of rice-export contracts with the aim of completing the Government’s plan to export 4.5-4.6 million tones this year
Experts have forecast that the world rice market will likely become more stable in the last months of the year as major rice producers have started to harvest crops with yields higher than last year, and importers have nearly fulfilled their yearly important targets.
VOV
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