03:41 (GMT +7) - Tuesday 06/12/2016

Vietnam Today

Rice exports tumbling

Released at: 14:28, 12/09/2015

Rice exports tumbling

3.8 million tons exported in first eight months a 9 per cent decline year-on-year.

by Hoai An

According to the Vietnam Food Association (VFA), rice exports stood at 3.8 million tons in the first eight months of the year, down 9 per cent compared to the same period last year, with an FOB value of nearly $1.6 billion, down 11.1 per cent, and CIF value of over $1.6 billion, down 15.8 per cent.

On September 9 the National Food Authority of the Philippines (NFA) announced a tender to import 750,000 tons in addition to the 1.8 million tons planned for this year due to climate change affecting its output. The NFA sought bids from Vietnam, Thailand, and Cambodia on importing milled rice prior to September 17.

The NFA expects to import around 250,000 tons by the end of the year, with the remaining 500,000 tons to be imported in the first quarter of 2016.

This is considered an opportunity to promote Vietnam’s rice exports over the remaining months of the year, but the Thai Ministry of Commerce has recently confirmed the sale of over 732,000 tons in stockpile during September.

The price of rice in the Mekong Delta has only fallen slightly compared to August.

 

User comment (0)

Send comment