Vietnam Rice Export to Recover in Q1 2010: VFA
Rice export will recover in the first quarter of 2010, creating more opportunities for Vietnamese producers and exporters, state media reported, citing the Vietnam Food Association (VFA).
The VFA said India’s rice output is forecast to decrease by 16 million-18 million tons due to drought.
“Pakistan, which will export 3 million tons of rice this year, tent to decrease export of lower quality rice, paying the way for Vietnamese low quality rice,” the VFA expected.
Egypt has also extended ban on exporting rice by Oct 2010 and narrow rice cultivation area, the VFA said, forecasting that Egypt may become rice importer in the near time.
Meanwhile, the world is forecast to lack 7 million tons of rice but cultivation area has been decreased. “Rice market in the first quarter of next year may benefit exporters,” the VFA forecast.
The VFA said Vietnam now has 1.8 million tons of rice in stock. The country will have additional 800,000 tons after summer-autumn crop. (Labor)
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