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Tue, 07/02/2012 - 4:26 am.

Vietnam rice trade halts on Manila buy

HANOI, Vietnam/MANILA, Philippines -- Vietnamese exporters halted trade in a popular grade of rice on Wednesday after traders said the Philippines had agreed to buy one million tons of the grain from Vietnam, although Manila remained tight-lipped about the deal.The Philippines is the biggest rice buyer on international markets and imports about 10 percent of its annual needs. Its purchases of 2.3 million tons last year propelled rice prices to historic highs and set off a global food crisis.

CÔNG TY TRÁCH NHIỆM HỮU HẠN

MỘT THÀNH VIÊN GẠO VIỆT

Là thành viên của GENTRACO

BỐ CÁO THÀNH LẬP

Tên tiếng Việt : CÔNG TY TRÁCH NHIỆM HỮU HẠN MỘT THÀNH VIÊN GẠO VIỆT

Tên tiếng Anh : VIET RICE LIMITED COMPANY

Tên viết tắt : VIETRICE

Rice prices are predicted to rise worldwide this year and neither local rice exporters nor authorities are showing any sign they’re preparing to cash in on the boom.

Rice producers in the Mekong Delta are becoming agitated by the lack of government guidance on this year’s plans for rice exports.

The Ministry of Industry and Trade may soon issue a “temporary” export plan, according to the Vietnam Food Association (Vietfood)’s most recent meeting.

BEIJING, Dec 30 (Reuters) - China will soon issue corn, wheat and rice export quotas for next year after a record domestic harvest and falling prices encouraged Beijing to renew shipments following a one-year hiatus, sources said on Tuesday.
The export limits were disappointingly small for a country that once ranked as the world's second-largest supplier of corn, and traders said it was unclear why grains merchants would rush to foreign markets given higher domestic prices already buoyed by Beijing's scheme to build up government stocks.

Vietnam made the target to export 4.8 million tons of rice in 2009, exceeding the estimated 4.5 million tons in 2008, the local newspaper Industry and Trade reported Monday. The export is expected to go up next year because the global economic crisis may drive some people into starvation and to rely on rice instead of fruit, vegetables and meat, according to Vietnam's Ministry of Industry and Trade. The estimate is also based on increasing demands from potential foreign importers. African countries, especially Nigeria and South Africa, have expressed interest in importing Vietnam's rice in coming years, said the ministry.

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