PM Requires Ministry to Announce Rice Export Volume in 2010

The Vietnamese Prime Minister Nguyen Tan Dung has required the Ministry of Agriculture and Rural Development (MARD) to forecast rice output and domestic demand to announce this year total rice export volume in Feb, the government said on its website.

 

The PM required the ministry to cooperate with provincial People’s Committees in instructing local farmers to produce rice according to the market demand.

 

Dung also asked the State Bank of Vietnam to instruct its commercial banks to ensure sufficient loans for rice producers, processors and exporters, adding that the Vietnam Southern Food Corporation, Vinafood 2, and Northern Food Corporation, Vinafood 1 will be given more priority.

 

The Ministry of Finance is required to work with provincial People’s Committees and the Vietnam Food Association (VFA) to upgrade information about production cost of rice and rice prices to ensure highest profit for the farmers and stable prices at domestic market.

 

The VFA had expected that Vietnam will export between 6 million-6.2 million tons of rice in 2010 but the MARD forecast that the rice export volume will not be above 5.5 million tons as rice fields in the north are faced with droughts while salinity intrusion is spreading in the south.

 

Last year, Vietnam exported 5.958 million tons of rice valued at US$2.663 billion to its 20 main markets,