Vietnam Eyes US$1.3Bln from Rice Export to Indonesia
Vietnam, the world’s second largest rice exporter, is expected to fetch a total earning of US$1.3 billion from rice shipments to Indonesia by the end of this year, according to the Ministry of Trade.
The figure is likely to increase US$1.75 billion by 2010 thanks to soaring demand in Indonesia, the ministry said.
Domestic enterprises reportedly sold out US$766.5 million worth of rice to the Indonesian market in the first half of this year, up 70 per cent against the same period last year.
During the period, the Southeast Asian country also shipped 838,000 tons of crude oil to the market, earning US$371 million, up 11.7 per cent and 0.75 per cent in terms of volume and value, respectively.
The ministry said peanuts, sugar and porcelain were among new products being exported to Indonesia, contributing to the overall increase in exports in the first six months of the year.
The MoT, however, warned that Vietnam’s exports to Indonesia were unsustainable as the major export products lacked diversity.
Vietnam’s imports from Indonesia amounted to US$605.7 million, and included animal feed, petroleum, clinker and construction glass.
According to the General Department of Customs, Vietnam had an export surplus of more than US$160.7 million in trade with Indonesia in the first six months of this year, up US$120 million on-year. (
www.riceonline.com)
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