Vinafood 2 Wins Big Rice Export Deal with Malaysia
The Southern Food Corporation, or Vinafood 2, has signed a deal to export 100,000 tons of 5 per cent broken rice to Malaysia.
This is the rice export contract with highest volume the company reached over the past two months.
According to the Vietnam Food Association, the Vinafood 2 agreed to sell rice for US$460 a ton, CF, with delivery from now to November 2008.
Meanwhile, export price of Vietnamese 5 per cent broken rice rose to US$390-US$400 a ton, FOB, in the past three days, up from US$380 a ton a week earlier.
The State Bank of Vietnam has urged its banks to provide low-interest loans to farmers and companies that buy rice to boost exports.
Commercial banks will provide loans at “most reasonable interest rates” to Vietnam Southern Food Corp., Vinafood 1 and Vietnam Northern Food Corp., Vinafood 2, to buy 300,000 tons of export-grade rice from traders and farmers.
These banks would also have to extend farmers’ overdue loans and give them further loans to carry on farming. (New Hanoi, Vietnam Agriculture)
Vietnamese
