Vietnam Inks Deals to Export 600,000 Tons of Rice Early 2008
Vietnamese rice exporters have signed contracts to ship 600,000 tons this year, mostly to the Philippines, Middle East and Southern America, said Nguyen Thi Nguyet, general secretary of the Vietnam Food Association.
Of the total, 410,000 tons of 25% broken rice will be shipped to the Philippines at more than $400 a ton, CIF (cost including freight).
Nguyet said Vietnamese exporters are likely to win more contract in the Philippines’ tender to buy 500,000 tons of rice this month
Vietnam plans to export from 4.5 million or five million tons of rice out of total 36 million or 38 million tons of paddy this year.
Export prices of rice are predict to be more than $320 a ton of 25% broken rice and $340 a ton of 5% broken rice.
Prices of buying paddy are also at high level in Vietnam, standing at VND3,500-VND3,600 a kilo, up from VND3,200 a kilo in 2007. (Vietnam Economic Times, Youth)
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