Vietnam to Export 5 Mln Tons of Rice in 2009
Vietnam, the world’s second largest rice exporter, set target to produce around 37.5-38 million tons of paddy next year, with between 4.5 million tons and five million tons of rice will be for export, according to the Ministry of Agriculture and Rural Development.
Accordingly, the country will maintain its paddy cultivation area at 7.5 million hectares, but double its reserve capacity to four million tons.
According to the General Statistics Office, Vietnam exported 4.72 million tons of rice in 2008, earning US$2.9 billion, up 3.6 per cent on year in volume and 94.8 per cent in value.
The Vietnam Food Association said local companies have so far this year signed contracts to ship 5.1 million tons.
The companies will export around 2.4 million tons of rice from now to June 2009, Truong Thanh Phong, chairman of the association said.
Export prices of Vietnamese rice have increased by 12.9 per cent from middle last week, standing at US$410 a ton of 5 per cent broken rice; and US$350 a ton of 25 per cent broken rice, thanks to rising demand from Nigerian and the Filipino companies.
At local market, paddy prices have also slightly soared to VND3,400 and VND7,500 a kilogram. (Vietnam Agriculture)
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