Vietnam may increase rice exports
Monday, 10 August 2009
HANOI, Aug 9 (Bloomberg): Vietnam, the world's second-biggest rice exporter, may boost shipments this year by as much as 49 per cent to 7 million metric tons on an improved harvest, Do Huu Hao, deputy minister of trade and industry, said today.
"The government is aiming to boost rice exports this year to cover drops in prices," Hao said by phone from Hanoi, citing higher output in southern Vietnam, which may produce up to 10 million tons of un-milled rice. "This good harvest will enable us to ship one to two million tons more of the grain," he said.
Hao didn't give specific figures for export price declines, or comparative production figures for southern Vietnam.
Vietnam is trying to increase agricultural earnings to narrow its trade deficit, which totaled $3.4 billion in the January-to-July period. Vietnamese shipments of rice last year were 4.7 million tons, according to government figures.
The Southeast Asian country has shipped about 5 million tons of the grain so far this year, according to Hao.
Vietnam's agriculture ministry has submitted a proposal to create government stockpiles of coffee and rice to protect farmers and exporters, Diep Kinh Tan, a deputy minister of agriculture, said in a phone interview on July 2.
"The government is aiming to boost rice exports this year to cover drops in prices," Hao said by phone from Hanoi, citing higher output in southern Vietnam, which may produce up to 10 million tons of un-milled rice. "This good harvest will enable us to ship one to two million tons more of the grain," he said.
Hao didn't give specific figures for export price declines, or comparative production figures for southern Vietnam.
Vietnam is trying to increase agricultural earnings to narrow its trade deficit, which totaled $3.4 billion in the January-to-July period. Vietnamese shipments of rice last year were 4.7 million tons, according to government figures.
The Southeast Asian country has shipped about 5 million tons of the grain so far this year, according to Hao.
Vietnam's agriculture ministry has submitted a proposal to create government stockpiles of coffee and rice to protect farmers and exporters, Diep Kinh Tan, a deputy minister of agriculture, said in a phone interview on July 2.