Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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Vietnam has sufficient stocks to export
Reuters, March 21, 2004
Vietnam, the world’s second-largest exporter of rice, has sufficient stocks to export up to four million tonnes of the grain this year, the agriculture minister said, apparently hoping to allay fears about supply.

“This year I have reported to the prime minister that it is guaranteed that the stocks are sufficient for export of 3.8 million to 4.0 million tonnes,” Minister Le Huy Ngo was quoted as saying in Thursday’s Nguoi Lao Dong (Labourer) newspaper, an amount roughly in line with 2003 export levels.

Vietnam was enjoying bumper stocks from the harvest of its highest yielding crop, he said.

“The recent winter-spring crop provides good yields and the (paddy) prices are good, so farmers are very excited,” Ngo said in the report. Ngo appeared to be responding to traders’ concerns that Vietnam would be hard pressed to fill large foreign orders due to low supplies.

“I have been the minister for seven years but there has never been a year that the market is as good as this year,” Ngo said in the report. He said in past years, Vietnam’s leaders had to promote rice sales overseas but that has now proven unnecessary.

In January Vietnam targeted its shipment for this year at 3.5 million tonnes, down from 3.9 million tonnes shipped in 2003, partly to support prices. The Vietnam Food Association has said the government’s 3.5 million-tonne target could be revised based on the output of the ongoing winter-spring crop and the next summer-autumn crop.

On Thursday the Philippines, one of Asia’s largest rice importers, said it was considering holding a tender of the grain in April if Vietnam declined to supply the bulk of its requirement for 115,000 tonnes. State trader National Food Authority, or NFA, said a tender might be in place next month if the Vietnam Southern Food Corp (Vinafood 2) was to reject the NFA proposal that it supply an extra 65,000 tonnes of the grain.

The NFA has asked Vinafood 2 and six other Vietnamese firms if they could supply an additional 102,500 tonnes of rice at the same price and terms as the 410,000 tonnes that it bought from them last month.
MGR Archive 21.3.2004
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