Big rice export contracts to be signed for delivery in year end

08-Oct-2009 Intellasia | Saigon Economic Times | 2:51 PM Print This Post

Nguyen Tho Tri, vice chair of Vietnam Food Association (VFA) while addressing a press meeting in HCM City on Wednesday said that the associates are negotiating big rice export contracts for signing in the year end.

Centralised rice export markets of Vietnam now include Indonesia, Philippines, Cuba and Iraq. So the government assigned Northern Food Corp and Southern Food Corp (Vinafood 1 and 2) to join the tenders of rice exports to these nations.

Meanwhile, because Vietnam’s rice export price is going up, so VFA still retained the price at $400 per tonne for 5 percent broken rice, $360 percent per tonne of 15 broken rice.

Tri added that a company signed a contract to sell over 100,000 tonnes of 5 percent broken rice at $405 per tonne and over 100,000 tonnes of other kinds of rice at $400 per tonne.

According to VFA, till late September the country contracted to export 5.79 million tonnes of rice and growing by 47 percent year-on-year. Of which 4.97 million tonnes were delivered, increasing 40 percent, for the earnings of $2 billion in line with the FOB price, declining 6.22 percent in terms of export turnover from 2008.

Rice for export to Africa in Jan-Sep reached 1.4 million tonnes, accounting for 27 percent of total rice export volume, jumping 98 percent y-o-y, and to Middle East 250,000 tonnes, rising by 65 percent.

 


Category: Business

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