Rice exports increase

Phan Van Chinh, Director of the ministry’s Import-Export Department, said rice exporters have signed export contracts worth 4.3 million tonnes, an increase of 17 per cent as compared to the same period last year despite the difficulties in the market. By the end of May, rice exports reached 2.7 million tonnes while another 1.6 million tonnes are awaiting shipment.

Asked whether the Ministry of Industry and Trade would remove floor prices on rice exports, Chinh said the issue was being discussed with ministries and relevant agencies.

The Government has told the ministries of Industry and Trade, and Agriculture and Rural Development, to consider the impact of pilot removal of the floor prices on rice exports and propose appropriate management measures to facilitate export activity.

The Viet Nam Food Association (VFA) proposed to allow local firms to export rice to their clients at prices agreed upon by the two sides, instead of the floor prices set by the association.

The FOB floor prices set by the VFA are $410 per tonne for 5 per cent broken rice, $375 per tonne for 25 per cent broken rice and $365 per tonne for 35 per cent broken rice.

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