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
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

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Domestic rice a force in export market
Viet Nam is quickly becoming a force to be reckoned with in the world rice exporting market, following this year’s shipment of 1.2 million tonnes of rice as part of the 3 million tonnes of signed export contracts for 2005.

The popularity of Vietnamese rice has helped rice exporters reach a year-on-year increase of 13 and 42 per cent in terms of volume and value, said chairman of the Viet Nam Food Association (Vietfood) Truong Thanh Phong.

Phong attributed the high value to a hike in the world market rice price. Currently a tonne of rice will fetch US$243, up $49 over the same period last year.

Moreover, Phong said, rice producers have improved processing, helping the country to increase the export of high quality rice including Huong Can, Huong Long, Huong Dong and Rong Vang varieties.

The increasing exports of high quality rice have lifted the industry’s added value, Phong said, adding that the export price of several different kinds of fragrant rice have reached $380 per tonne.

Rice exporters have not been content with relying on Governmental contracts such as barter contracts, and have been actively seeking customers and subsequently won contracts which accounted for 53 per cent of the country’s total rice exports.

Among the exporters, Southern Food Corp, the country’s leading rice exporter, shipped 600,000 tonnes of rice, out of its 1.5 million tonnes of signed contracts so far, representing 58 per cent of the entire nation’s rice exports. The company expects to export another 900,000 tonnes by the end of this month.

Along with exports, the corporation is also stockpiling roughly 500,000 tonnes of rice to help stabilise rice price in the domestic market.

Agriculture ministry officials expect domestic rice output will be sufficient to cover Viet Nam’s export plan of roughly 4 million tonnes for all of 2005. The Cuu Long (Mekong) Delta provinces, the country’s rice granary, have finished harvesting the winter – spring crop, gaining a production of 8.8 million tonnes, an increase of 250,000 tonnes over the previous winter – spring crop.

Despite the price hike of agricultural materials including petrol and fertiliser, rice prices in the domestic market stands at between VND2,300 and VND2,350 per kilo.

Besides the traditional markets of the Philippines, Indonesia and Japan, domestic rice exporters have also diversified their exports to Malaysia, Australia, Belgium, Holland, the Czech Republic and Hong Kong.

Vietfood forecasts that the average price of exported rice will reach $255 a tonne for 2005 - $44 higher per tonne than the average price for 2004.

The promising figures have led Vietfood to believe that Viet Nam’s food industry will be able to obtain the target of $1 billion in export revenue set for 2005.
MGR Archive 21.4.2005
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EU Prices Baldo €660
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