Vietnam to Issue Rice Trade, Export Decree late 2009

The Vietnam government will issue a decrease on rice trade and export late this year with an aim to raise Vietnamese rice export prices.

 

The Ministry of Justice recently held a meeting on building the decree, which is expected to be applied from early 2010.

 

The decrease will simplify rice export procedures and require rice exporting companies to build storage and husking plant.

 

Participants at the meeting said Vietnamese rice is high quality, but its prices are still low.

 

The Information Center for Agriculture and Rural Development (Agroinfo) said that export prices of Vietnamese rice were US$413/ton of 5% broken rice; US$355/ton of 25% broken rice in July. But the prices dropped to US$392.94/ton of 5% broken rice; and US$340.39/ton of 25% broken rice in Aug.

 

Meanwhile, export prices of Thai rice were US$524.56/ton of 5%; and US$432.06/ton of 25% broken rice in Aug.

 

Vietnam exported 5.062 million tons of rice worth US$2.288 billion in the first nine months of 2009, up 35.47% in volume but down 6.44% in value against the same period of last year. (Vietnam Economic Times)