Vietnam to Host World Rice Summit This Year

Vietnam will open World Rice Commerce Conference in November this year, according to the Vietnam Food Association (Vietfood).

 

The conference is expected to draw around 200-250 rice producers and exporters in Vietnam and from all over the world. The participants will make a review on the world’s rice export activities in 2006 and put forth an orientation for 2007.

 

Vietnam currently ranks second biggest rice exporter after Thailand. The country gained up to US$1.399 billion from exporting 5.2 million tons of rice last year, the highest volume since it started selling rice abroad in 1990.

 

The sharp increase in Vietnam's rice exports is attributed to the recent bumper rice crops in the Mekong Delta and its lowered domestic demand.

 

Moreover, some other big rice exporters like China, India and Pakistan have reduced their rice export volume to meet their rising domestic demand, facilitating Vietnam to raise its rice exports to Asia, Africa and the Middle East by 80 per cent so far.

 

Rice will likely be a hot commodity this year. International organizations have estimated that the world demand for rice this year will total around 460 million tons. Major rice exporting countries remain Thailand, Vietnam, India, and Pakistan.

 

Demand for rice imports in countries in the Asia – Pacific region will rise also. South Korea has just lifted rice import prohibition. Indonesia will also do the same thing after a long time of banning rice imports. Severe weather in many countries, as forecast says, will also increase rice demand.