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Million-tonne buy boosts Delta rice price
The price of Cuu Long ( Mekong ) River Delta rice has risen by 400 to 3,200 VND a kilo.
The increase follows the Government’s decision to purchase 1 million tonnes of unhusked rice, says the Ministry of Agricultural and Rural Development’s Agricultural and Rural Development Policy and Strategy Research Institute’s Information Centre.
The rice industry has exported 235,000 tonnes of the grain in December alone, earning 100 million USD.
Rice exports are expected to thrive again next year because food will again be scarce throughout much of the world.
The global economic crisis has driven many people into starvation and those living in the emerging world are likely to rely on rice instead of fruit, vegetables and meat.
In addition, major rice exporters Thailand and India plan to increase their reserves to ensure domestic food security.
Estimated global rice consumption is 426 million tonnes, up 1 percent over 2008.
Finance ministry Directive 8486/VPCP-KTTH, which took effect eight days ago, has eliminated the export tax for rice as part of the Government’s effort to boost the grain’s export.
But the tax had only applaied when rice was above 800 USD a tonne FOB, explained Vietnam Food Association (VFA) general secretary Huynh Minh Hue.
It now averaged 575 USD a tonne FOB, he said.
VFA figures show that Vietnam has exported almost 4.5 million tonnes of rice so far this year for 2.6 billion USD.
VNA
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