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 suspends signing of new rice export contracts
Vietnam has halted the signing of new rice export, contracts after local exporters had inked to ship 4.5mil tons of rice for 2007, meeting the year's target set by the Government, according to Vietnam Food Association, or VFA. Under the regulation issued by the Government and the Ministry of Trade, rice exporters must register their contracts with VFA for confirmation, but the association has stopped dealing with rice export contracts since last weekend.

"The Government has not ordered a stop to rice export. However, the VFA must wait for instructions from the Government because the signed contracts have reached this year's target of 4.5mil tons," said Nguyen Thi Nguyet, secretary general of VFA.

She added that the Government would consider the issue in September and would make a decision after scrutinizing a survey on the country's rice production by the Ministry of Trade and the Ministry of Agriculture and Rural Development.

Last year, Vietnam also suspended rice export to ensure national food security, because epidemics decreased its paddy yield. The country shipped 4.75mil tons of rice worth US$1.3bil a 10% fall in volume and value against 2005.

In the first six months of this year, Vietnam ported over 2.3mil tons of rice with total revenue of US$732mil, falling 18.53% in volume and 5.83% in value year-on-year.

In the Mekong Delta, rice price is rising to an average VND2,950 per kilo because local exporters have strongly purchased rice for export.

The FOB price of Vietnamese rice at Saigon Port has also increased, at US$305-307 per ton for 5% broken rice and US$290 per ton for 25% broken rice, US$30-40 per ton higher than two months earlier.

Vietnam now ranks second in rice export after Thailand, where annual rice export volume is around 7-8mil tons.
MGR Archive 19.7.2007
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