Rice export value jumps as volume goes down (30/09)
06/08/2010 - 20 Lượt xem
As the prices skyrocketed, the country exported a mere 3.7 million tonnes during that period, down 7.4 percent in volume, according to the centre under the Ministry of Industry and Trade (MoIT).
The centre’s analysts attributed Vietnam’s higher revenue to the fact that rice prices in Asia unexpectedly tripled in April and May from the corresponding time last year.
In addition, rice exporters have already signed contracts to ship more than 400,000 tonnes in the fourth quarter.
On a track of good performance so far this year, the Vietnam Food Association forecasts that the country can export another 1 million tonnes of rice by the end of the year, bringing the yearly figure to 4.6-4.7 million tonnes.
The centre expects that rice prices will continue inching upwards for the remaining months of the year due to rising demand from the Philippines and Africa.
Filipino importers will possibly negotiate with local companies to ink deals in October for delivery in January, 2009. To prepare for these contracts, Vietnamese firms will have to purchase summer-autumn paddies from farmers, pushing paddy prices in the Mekong Delta edge up to 3.900 VND per kilo from 3.700 VND the previous week.
Anther factor may drive Vietnamese rice export prices up in the future stems from the fact that prices of 5 percent broken rice from Vietnam were cheaper at 540-550 USD per tonne against similar rice from Thailand at 700 USD per tonne.-Enditem
Source: VNA
