Vietnam Rice Sales Forecast to Rise on Higher Global Demand: VFA

Vietnam’s sales of rice are forecast to rise on higher global demand, according to Vice Chairman of the Vietnam Food Association (VFA), Pham Van Bay.

 

Bay noted the rice to be exported will be harvested from the 2009-2010 winter-spring crop consisting of various rice varieties including IR 50404 the Ministry of Agriculture and Rural Development (MARD) has proposed a restriction.

 

He said that local companies have inked deals to export more than 400,000 tons of rice for delivery early next year, and is tendering to export 2 million tons of 25% broken rice next month.

 

So far this year, the companies have exported 5.6 million tons of rice, Bay added.

 

“With growing demand from the world, Vietnamese farmers will sell out their winter-spring rice and may make solid profit,” Bay expected.

 

The Mekong Delta region, Vietnam’s granary, will complete cultivating 1.6 million hectares of rice for this winter-spring crop, with main varieties including OM 6162, OMCS 2000, OM 5472, OM 6677 and OM 4218. The region is expected to harvest 10.5 million tons of unpolished rice from the crop. (VNA)