Vietnam Urges Rice Export
The Vietnamese Ministry of Industry and Trade has asked local rice exporters to boost the export in order to fulfill its target to ship 4.5 million tons of rice abroad in 2008, website of the Government posted.
In the dispatch No 7820/BCT-XNK, the ministry asked the Vietnam Food Association to instruct the rice export by asking its members to speed up delivery while seeking for new contracts from new market.
The ministry said rice export volume should not be limited monthly as before.
Currently, in Mekong Delta region, farmers have been upset as paddy and rice prices continued falling. The flood season is coming while they have not yet sold out summer-autumn paddy.
Nguyen Anh Phong, deputy director of Tien Giang Food Company, said that the buying price of rice dropped to VND5,800-VND6,000 (US$0.35-US$0.36) per kg from VND6,200-VND6,500 (US$0.37-US$0.39) per kg last week.
The buying price of paddy (unhusked rice) also went down to under VND5,000 (US$0.30) per kg from VND4,800-VND5,100 (US$0.29-0.31) per kg last week.
Local brokers have stopped buying paddy and rice from farmers because of overstocking in rice processing mills, Phong said.
He added that the current low export prices are also a factor in the falling prices.
According to the Vietnam Food Association, export prices of Vietnamese rice dropped below US$600 and US$450 per ton of 5 per cent and 25 per cent broken rice, respectively. (Government Website, Young People)
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