VFA Wants to Halt Signing New Rice Export Contract
Vietnamese rice exporters should halt inking new export contracts because with this speed, they will not have enough rice for export, Truong Thanh Phong, chairman of the Vietnam Food Association (VFA) warned.
Deputy Minister of Industry and Trade, Nguyen Thanh Bien, also said the companies should halt new contracts to consider their good delivery ability.
The advices were made at the meeting on rice export April 27.
According to VFA’s report, total rice export volume for delivery in June has surpassed supply. Local companies have so far this year signed contracts to export nearly 4 million tons of rice.
Vice chairman of VFA, Huynh Minh Hue, said rice price tended to decrease due to weak demand, while India planned to export rice in this third quarter.
VFA said rice export will be more difficult in late 2009, but adding that it will suggest the Prime Minister allow resume of rice export soon.
The association said it will suggest raising rice export volume to 5.2 million tons from 5 million tons thanks to bumper winter-spring crop.
Local companies exported 2.3 million tons of rice worth nearly $900 million as of late April 2009, with rice export price averaging at $406.73/ton. (VOV)
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