Vietnam rice exports to fall in Q1 this year
Sunday, 16 May 2010
HANOI, May 15 (Commodity Online): Vietnam's rice exports is likely to dip in the first quarter of this year compared with same period last year.
According to Vietnam Food Association (VFA) the country would export extra 1.3-1.4 million tonnes of rice in this May and June, bringing total rice export volume in first quarters to 3.3 million tonnes. However the total figure is would still be lower 300,000-350,000 tonnes from the same period of 2009.
The reduction comes from the increase in prices of import goods and the limitation in rice purchase demand. In addition, the stockpiled rice volume in many African countries remains high, making reduce the region's rice import demand, said the VFA.
Vietnam is meeting hardships because rice buyers delayed goods receive and halted the rice tenders. It is also hard to carry out commercial contracts because Vietnam's rice is in the competition against Thai high quality rice, Bangladesh, Burma with lower offering prices.
Meanwhile, the rice harvesting output of India, the world's second largest rice producer and seller, previously was predicted to reduce by 16 million tonnes in 2010 because of droughts in 2009.
But lately, UN Food and Agriculture Organisation (FAO) predicted that India's rice output will increase by 15 per cent to 151 million tonnes within this year.
According to Vietnam Food Association (VFA) the country would export extra 1.3-1.4 million tonnes of rice in this May and June, bringing total rice export volume in first quarters to 3.3 million tonnes. However the total figure is would still be lower 300,000-350,000 tonnes from the same period of 2009.
The reduction comes from the increase in prices of import goods and the limitation in rice purchase demand. In addition, the stockpiled rice volume in many African countries remains high, making reduce the region's rice import demand, said the VFA.
Vietnam is meeting hardships because rice buyers delayed goods receive and halted the rice tenders. It is also hard to carry out commercial contracts because Vietnam's rice is in the competition against Thai high quality rice, Bangladesh, Burma with lower offering prices.
Meanwhile, the rice harvesting output of India, the world's second largest rice producer and seller, previously was predicted to reduce by 16 million tonnes in 2010 because of droughts in 2009.
But lately, UN Food and Agriculture Organisation (FAO) predicted that India's rice output will increase by 15 per cent to 151 million tonnes within this year.