Rice demand from Vietnam's traditional markets is showing signs of recovery for the next six months, according to Huynh Minh Hue, Vice Chairman of the Vietnam Food Association (VFA).
Rice demand from Vietnam's traditional markets is showing signs of recovery for the next six months, according to Huynh Minh Hue, Vice Chairman of the Vietnam Food Association (VFA).
Speaking at an online conference held by the Ministry of Industry and Trade on October 5 in Hanoi, Hue cited Vietnam winning bids to supply 450,000 tonnes of rice to the Philippines and about 1 million tonnes to Indonesia as of late.
The contracts will help Vietnam’s rice export grow more stably from the fourth quarter of this year to the first quarter of 2016, he added.
The VFA leader also said the rice price has increased about 300 VND (0.14 USD) per kilogramme compared to the previous months, adding that the rising trend will continue when the country allocates quotas under centralised contracts.
He suggested enterprises balance the rice supply for export and for domestic consumption, pointing out that the rising export volume will put pressure on rice suppliers.
Deputy Minister of Industry and Trade Tran Tuan Anh said the ministry will collaborate with relevant agencies to reach the Government goal of exporting rice as well as ensuring farmer income and business profits.
He also mentioned sustainable development in the agricultural sector, focusing on restructuring, improving quality and building brand names with the aim to avoid losses when the market demand declines.
According to the VFA report, Vietnam shipped over 4.3 million tonnes of rice worth 1.95 billion USD abroad in the first 9 months of this year, down 9.12 percent in terms of volume and 14.3 in value compared to the same period last year.-VNA
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Rice for exports (Source: VNA)
