Vietnam to grow rice shipments; PH among main markets
HCM CITY — Vietnam’s rice exports are expected to rise in the remaining months of the year thanks to increasing demand in many markets, according to the Ministry of Agriculture and Rural Development.
Higher demand has been forecast in China, the Philippines, Indonesia, Iraq, and Southern African countries, it said.
The Philippines, for instance, plans to import 500,000 to 800,000 tonnes to supplement its depleting stocks and stabilize prices.
A new decree, which takes effect in October, is expected to remove difficulties and legal barriers faced by rice businesses in expanding exports.
Rice exporters said they are likely to see positive signs from October but also challenges.
Lam Anh Tuan, director of the Ben Tre Province-based Thinh Phat Foodstuffs Co Ltd, said if the Philippines and Indonesia buy in the near future they would buy through bids or negotiations at low prices.
Prices of certain varieties of Vietnamese rice are higher than their rivals, he said.
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