Vietnam Signs Contracts to Export 4Mln Tons of Rice

Vietnamese rice companies have so far this year signed contracts to export four million tons of rice, mostly for delivery in the first half, the Customs newspaper reported, citing the Vietnam Food Association (VFA).

 

The signed volume accounts for around 80 per cent-88 per cent of total volume planned for the whole 2009.

 

According to the Ministry of Industry and Trade, local companies will export at least 600,000 tons of rice monthly in the second quarter of 2009.

 

The VFA said export price of Vietnamese rice for delivery in July and August increased by US$30-40/ton. The rice is offered at US$460/ton of 5 per cent broken rice, FOB; US$450/ton of 10 per cent broken rice; US$430/ton of 15 per cent broken rice and US$400/ton of 25 per cent broken rice.

 

The State Bank of Vietnam has asked local commercial banks to provide enough credit for the Southern Food Corporation and the Northern Food Corporation to buy paddy from farmers and fulfill already-signed contracts. (Customs, VOV, CPV)