• Vietnamese rice export fetches $1.3 bln
    (Date posted: 17-05-2011, 07:21 am)

    Vietnam has exported 2.75 million tons of rice to earn $1.3 billion, according to Vietnam Food Association (VFA).

    The paddy price in the Mekong Delta region ranged around VND5,850-6,000 per kilogram, slightly down VND50-100 per kilogram, while the long-grain paddy price was about VND6,100-6,200 per kilogram.

    The price of paddy rice for 5 percent broken rice processing and 25 percent broken rice processing was about VND7,950-8,050 per kilogram and VND7,750-7,900 per kilogram respectively.
    The 5 percent, 15 percent, and 25 percent broken rice price without bag was about VND9,450-9,500 per kilogram, VND 9,100-9,200 per kilogram and VND8,600-8,750 per kilogram respectively.
    Exports saw a year-on-year increase of 30 percent in volume and 22.7 percent in value in 2011.
    Domestic rice exporters face plenty of obstacles to trading in South Korean and Japanese markets, experts told the Vietnam News Agency.

    Through Korea planned to import 347,658 tons of rice this year, Vietnamese rice exporters had to be experienced in exporting rice at electronic auctions to be successful, said Le An Hai, commercial counselor for Vietnam in South Korea.

    Electronic auctions are new to many local rice exporters, said Cao Thi Ngoc Hoa, deputy general director of Southern Food Corp.

    Although Japan planned to import 250,000 tons of rice from Vietnam, local rice exporters could not cope with the order because of poor market research and knowledge regarding modern market trading methods, said Ho Xuan Hung, deputy minister of Agriculture and Rural Development.
    Source: Tuoi Tre

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