Egypt to import 1 million tonnes of Vietnamese rice
Egypt has reached agreement with Vietnam to import 1 million tonnes of rice in three to four months, the country’s electronic newspaper Ahram reported.
Egypt to import 1 million tonnes of Vietnamese rice. Illustrative image (Photo: VNA)
Cairo (VNA) – Egypt has reached agreement with Vietnam to import 1million tonnes of rice in three to four months, the country’s electronicnewspaper Ahram reported.
“Thevisit of the President of Vietnam to Egypt resulted in a trade cooperationagreement involving the supply of 1 million tonnes of white rice, with theagreement coming into force next week”, the newspaper cited head of ricedivision of the Egyptian Federation of Industries Rajab Shehata as saying toReuters on August 30.
The amount, which will be transported to Egypt in various batches over thecourse of three to four months, will strengthen India’s strategic reserve ofrice for the next year.
The newspaper said in an attempt to rationalise the use of water resources,Egypt has reduced the area allowed for rice cultivation, and imposed tough newpenalties on farmers who illegally grow rice.
Traders said that the policies pushed Egypt to import up to 1 million tonnes ofrice next year.
Shehata said that import is the responsibility of the government, not theprivate sector. He did not mention the import price of Vietnamese rice but saidthat it would be cheaper than that from China.
Egypt consumes some 3.3 million tonnes of rice per year.-VNA
Good prospect is forecast in the export of several agricultural products, including rice, in the rest of the year as demand in importing markets has shown optimistic signs, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam’s rice exports saw remarkable growth in the first six months of this year, with year-on-year increases of 24.6 percent in volume and 42.2 percent in value.
A Vietnamese company has won a bid to export 60,000 tonnes of Japonica brown rice to the Republic of Korea (RoK), defeating competition from rivals of China, Thailand and Australia.
Vietnam’s rice export has posted remarkable figures in the first half of 2018, and the sector expects business to get better as the country’s traditional rice market are increasing import.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
Egypt to import 1 million tonnes of Vietnamese rice. Illustrative image (Photo: VNA) 
