Vietnam’s rice export industry has a bright future with good contracts after having a successful year. Vietnam had a successful year Vietnam has exported rice to 132 markets in the world and China remains Vietnam’s biggest buyers.Vietnam exported over 570,000 tonnes of rice last December, a 38.6% compared to the same period in 2016. Local firms signed contracts to export 6.4 million tonnes of rice, of which 5.8 million was exported in 2017. The exports in the first eleven months of 2017 reached 5.52 million tonnes worth USD2.49bn, up 24.1% and 24.9% compared to same period the previous year. It also exceeded the 5 million tonnes target set in early 2017.Some 764,000 tonnes of rice remains in the inventory. 209,000 tonnes of which belong to Vietnam Southern Food Corporation, Vietnam Northern Food Corporation has 107,000 tonnes and the rest belong to other companies in the Vietnam Food Association.The Indonesian Bureau of Logistics announced on January 15 that it will start a bidding to import 500,000 tonnes of rice to Indonesia conducted under a government to public deal for both local and foreign firms. The rice must be harvested in less than six months and must be delivered by Feburary28.According to the Jakarta Post, Minister of Trade Enggartiasto Lukita said Indonesia would import rice from Vietnam and Thailand to ease local high prices.According to experts, rice supplies in many countries such as Malaysia, Philippines and South Korea fell because of climate change. Rice exports will continue to grow thanks to the… [Read full story]
Vietnamese companies are advised not to sign more rice export deals, as over 1.8 million tons of rice were shipped abroad in the first five months this year, according to Nguyen Dang Chi, Deputy Director of the Import-Export Department under the Ministry of Trade. With the current rate of delivery, Vietnam will have exported 2.2 million tons of rice by the end of June 2007, while the Government previously decided to cap rice export volume at only 4.5 million tons this year. In fact, the rice volume contracted for exports has nearly reached the targeted level. The most important task…... [read more]
Thinh Phat Food Co., Ltd officially began operating in 2008, mainly involved in trading export rice of varied types. Along with its development, Thinh Phat has affirmed its position in buying and ensuring consumption of rice for farmers, won the trust of the Ben Tre provincial authority as well as local farmers, and become one of the reputable enterprises in food trading in the Mekong Delta. At present, rice products under the Thinh Phat brand are always appreciated by both national and international businesses. Thinh Phat's success originates from the Management Board's appropriate investment strategy in each period. The company…... [read more]
Vietnam rice exports set to reach record high By Ngoc Hung - The Saigon Times Daily HCMC – Vietnam’s rice exports this year are well on the way to reach a record high of 6.7-6.75 million tons worth a total of US$3.1 billion. The Vietnam Food Association (VFA) said at a meeting on Monday that higher export volume and prices were key contributors. The export volume in all of 2010, if realized, will be half a million tons higher than last year, VFA said, adding the FOB price in the first 11 months this year was US$58.76 per ton higher…... [read more]
Export prices will continue to increase slightly this month, said Thuy. "Demand for importing rice is rising in many countries while production of major rice exporters including Vietnam and Thailand tends to be slow at this time due to unfavourable weather conditions. "Currently, domestic supply is low as the winter/spring crops havent been harvested and farmers have ceased selling as they are waiting for higher prices," he said. "This is causing difficulties for enterprises wanting to fulfill their export contracts." At the home market, prices are at their highest ever and will continue to rise in the coming months, according…... [read more]
Vietnam rice exports reached a record 5.2 million tons last year surprising even the country's trade ministry which was bracing for a poor farm performance after a series of natural disasters during the year. The country was repeatedly hit by floods and typhoons in 2005 forcing the trade ministry to lower the rice export target to 3.8 to 4 million tons to ensure availability at home. The volume represented a growth of 28 percent over 2004. It accounted for US$1.39 billion - a 46 percent increase - of the $5.8 billion earned by overall agricultural exports. Minister of Agriculture and…... [read more]
