Vietnam, the world’s second largest rice exporter, reportedly shipped 316,000 tons of rice in the first two months of this year, earning US$100 million, according to the Ministry of Agriculture and Rural Development (MARD).
The figures represent drops of 47.8 per cent in volume and 39.9 per cent in value against the same period last year.
The country fetched nearly US$79 million from exporting 250,000 tons of rice in February alone, the ministry reported.
During the period, the major rice markets of Vietnam are Cuba, Indonesia, Japan, Malaysia and the Philippines.
In the first two months of 2007, Vietnam won contracts to export 28,000 tons of rice to Japan. The Vietnam Food Association plans, this year, to export 150,000-170,000 tons of rice to this market.
Farmers in Mekong Delta provinces, where long-grained rice of the 5 per cent-25 per cent broken types are currently priced at around VND3,000-3,800 a kilo, are forecast to harvest some 3 million tons of paddy in March and an additional 4 million tons in April.
Export prices of Vietnamese rice, meanwhile, witnessed a slight rise in the week to February 27, as buying activity for new export contracts is increasing.
Prices are expected to remain basically unchanged in the coming weeks, as local farmers have started harvesting their paddy rice crop, resulting in an increased supply of exportable rice, a trader from the Vietnam Food Association said.
In Ho Chi Minh City and the Mekong Delta region, traders quoted indicative prices for high-quality 5 per cent broken rice at US$300 per ton, up from US$297/ton two weeks ago, and 25 per cent broken grade at US$280 per ton, up from US$277 per ton previously. (Vietnam & World Economy)
Vietnamese
