Sign up | Log in



Home  >>   Daily News  >>   Thailand News  >>   Agriculture  >>   Vietnamese rice exports hit record
NEWS UPDATES Asean Affairs           6   August  2011

Vietnamese rice exports hit record

Related Stories

June 29, 2011
Vietnamese agricultural sector hit hard by inflation

April 8, 2011
Vietnamese tra fish industry must restructure

March 14, 2011
Clean water shortage threatens Vietnam

March 2, 2011
Vietnam faces water crisis

February 17, 2011
Vietnam's climate change strategy


February 16, 2011
Support needed to develop Vietnam green power

Viet Nam's rice exports in the first seven months rose to a record high of nearly 4.62 milliontonnes and fetched US$2.18 billion, the Viet Nam Food Association reported.

That figure was an increase of 16.72 percent in volume and 26.07 percent in value, Huynh Minh Hue, VFA's general secretary told a meeting in HCM City yesterday.

The average free-on-board export price during the period was $473.37 per tonne, a year-on-year increase of $35.11, he said.

By July 31, VFA members had signed contracts to export 6.18 million tonnes, meaning another 1.64 million tonnes of the grain had to be shipped this year, he said.

Currently, rice remaining in stock at enterprises was about 1.39 million tonnes, lower than the volume needed to fulfill signed contracts, he said.

The summer-autumn crop was bought up very quickly since many businesses had to meet export commitments while some stockpiled waiting for higher prices, pushing up domestic prices, he said.

But though prices have risen to VND6,650 for a kilogramme of normal rice and VND6,800 for long-grain rice, supply had not met demand, he said.

VFA chairman Truong Thanh Phong said the world rice market was in a "complicated" state.
The newly elected Thai Government's promise to increase rice prices to 15,000 baht ($500) a tonne had affected the psychology of businesses and people there, causing an artificial shortage and pushing rice prices up there, he said.

If the new Thai Government kept its promise, Thai export prices would increase to $850 a tonne for white rice and $1,400 for fragrant rice, he said.

This could throw up two scenarios. In the first, importers have to accept high prices to buy Thai rice.
But in the other, Thailand cannot sell its rice, reducing supply from the world's largest rice exporter.

Phong warned that both scenarios would lead to higher rice prices.

Le Truong Son, general director of the Dong Thap Trading Corporation, and many others at the meeting said while the Thai Government would keep its commitment, the increase would follow a roadmap and ensure there would be no price shocks like in 2008.

Hue said this was an opportunity but also a challenge to Vietnamese exporters, explaining they had the opportunity to expand their markets but there would be more risks from market volatility.

But since domestic consumers would be hit if prices rise too much, appropriate measures were needed to balance export and local consumption, he said.

Global demand was expected to remain stable until the first quarter of next year, Phong said, though demand could increase sharply in some markets.

Indonesia would import more from Vietnam in the fourth quarter and the Philippines would import rice if its stocks diminish or rice yield was hit by natural disaster, he said.

Malaysia and Bangladesh also plan to continue buying rice from Vietnam this year.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    6  August  2011 Subsribe Now !
•   Indonesia consumer surveys are mixed     Subcribe: Asean Affairs Global Magazine
   Indonesia may export rice to South Korea Asean Affairs Premium
•  Slow US growth impacts Asia   
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

 Anwar calls for increased democracy      
   Thai exports and investment up 
•   IBM tells Thailand to get “cloudy”
•  Regional tourism conference on tap
•  Vietnamese rice exports hit record

Asean Analysis    6  August  2011

Advertise Your Brand
• WEEKLY SUMMARY Sponsor Our Events

Asean Stock Watch   5  August  2011

• Asean Stock Watch-August 5 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand