HCM City (VNA) – The Vietnam Food Association (VFA)has forecast that Vietnam’s rice exports in 2017 will reach over 5 milliontonnes, a slight rise over 2016.
World husked rice production in the 2016-2017 crop ispredicted to reach a record volume of 480 million tonnes, about 1.6 percentincrease year on year, said VFA General Secretary Huynh Minh Hue at aconference in Ho Chi Minh City on January 23.
Meanwhile, global rice inventory is also forecast to standat the highest level since 2001. The inventory is likely to reduce in majorexporters but rise in small ones and importers, leading to a fall in import aswell as limitation of rice trading contracts.
Hue revealed that in 2016, ASEAN countries such as thePhilippines, Malaysia and Indonesia imported only 10 percent of their volumesthey bought each year from Vietnam in previous years at 2-3 million tonnes.
He explained the situation to the countries’ new policies infood security, which helped them ensure domestic food and reduce dependence onimport. The liberalisation trend in rice trading was also more popular in thesecountries, affecting their rice contracts, he said, adding the fiercecompetition from regional exporters as another reason.
In that context, Huynh The Nang, VFA President and GeneralDirector of Southern Food Corporation, said that Vietnam will continue facingdifficulties in exporting rice in 2017. He predicted that exports to theChinese market, the largest market of Vietnamese rice, will also not meetexpectation as only 22 firms are currently allowed to export rice to the marketwith strict requirements in food safety and origin regulations.
According to the VFA, rice inventory in 2016 was 443,000tonnes, while the upcoming Winter-Spring crop is about to be harvested. Theassociation also forecast low price and difficulty in consumption due toabundant supply, and rice exports for 2017 will be over 5 million tonnes.
The association suggested that the Ministry of Agricultureand Rural Development propose the Government to stockpile rice harvested in theWinter-Spring crop to stablise the market and ensure profit for farmers.
Last year, rice export volume reached nearly 4.9 milliontonnes worth 2.1 billion USD, a sharp fall of 25.5 percent in volume and 20.5percent in value over 2015. However, domestic rice price still rise compared tothe previous year.-VNA
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Illustrative photo. (Source: VNA) 
