Vietnam Rice Export Prices Predict to Soar in 2008
Export prices of Vietnamese rice will rocket in early 2008 as local exporters start the new year in the context that production costs continue increasing and supply decreases, experts predict.
Poor crops of farm produces in the world, particularly wheat, forcing many countries to shift into using rice is the major reason for the price increase, the experts said.
The experts forecast Vietnamese rice will be traded at US$340 per ton for 5 per cent broken rice and US$320 per ton for 25 per cent broken rice in 2008.
The Vietnam Food Association said the country may export 4.5 million tons of rice in next year.
The association said Vietnam's total rice shipment volume will reach 4.3 million tons, valued at US$1.4 billion, by the end of 2007, ranking second in the world behind Thailand.
Export prices average at US$295 per ton in 2007, up by US$41 a ton compared with that of last year.
The Rice Export Regulating Board under the Ministry of Industry and Trade said they will announce rice export policy in the first quarter of 2008.
Experts also said Vietnam's rice export will be resumed in March of 2008 when the country completed harvesting winter-spring crop. (Vinanet)
Vietnamese
