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Good opportunities for Vietnam’s rice exports
Now is “a good time for Vietnam’s rice shipments,” as some big exporters of the grain such as Thailand and India still haven’t tapped their markets, a local official told Thanh Nien Daily Monday.
Vietnam will be able to ship a record 6 million tons of rice overseas this year, unless there are unexpected problems, said Pham Quang Dieu, head of the Agricultural and Rural Development Information Center under the Ministry of Agriculture and Rural Development.
“However, the issue is when we should export to get the best price,” Dieu noted.
The government is encouraging firms to sign export contracts and sell overseas to take advantage of the present situation.
Rice exporters signed contracts totaling 800,000 tons in June, raising the figure in the first half year to more than five million tons, according to the Vietnam Food Association.
In the first six months, the country shipped 3.8 million tons of the grain, up 56 percent from a year earlier. It generated $1.8 billion, a 24-percent year-on-year increase.
Vietnam’s rice stocks stand at nearly 1.4 million tons at present, of which the Southern Food Corporation maintains 592,000 tons, according to Vietnam Food Association.
“If we do not accelerate shipment progress now, our rice exports will be under pressure from Thailand and India’s shipments, which will increase the world supply of the grain, leading to lower prices,” he said. They will intensify tapping their export markets, after Thailand finishes purchasing rice off farmers, and India harvests a bumper crop.
India and Thailand will rapidly beef up their rice exports because of their big inventory, Dieu said. According to the US Department of Agriculture, India is estimated to have a stockpile of 19.5 million tons of rice this year, up 14 percent over 2008, while the Thailand’s respective figures are 42 million tons and 35 percent.
“They won’t keep their big stockpiles and will foster exports, maybe in the late third or fourth quarter,” he said.
Ngan Anh
thanhnien
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