VFA denies rumour on Indonesia’s imports of extra 700,000 tonnes Vietnamese rice

Vietnam Food Association (VFA) has denied a rumour that the National Logistics Agency of Indonesia has signed a contract to buy additional 700,000 tonnes of rice from Vietnam, the local newswre VnExpress reported on Friday.
According to rice exporters, while the local rice market has suffered a recent strong volatility, the wrong information about Indonesia importing additional 700,000 tonnes of rice will seriously affect the domestic market. In fact, earlier, there were some wrong rumours about the rice market, which caused the psychology of confusion for businesses.

On Oct. 6, Pham Van Bay, vice president of VFA added that for the last six months of this year, Indonesia has officially signed to buy 900,000 tons of rice from Vietnam, bringing this country’s total imports of rice from to 1.75 million tonnes. There are still about 520,000 tonnes of rice that Vietnamese firms have not yet shipped to the Indonesian partner.

According to Bay, Indonesia is the leading rice importer of Vietnam and is still the market that VFA keeps eyes on. In order to stabilize the domestic rice market, VFA has made a number of measures such as in the Mekong Delta provinces, businesses will have to sell rice with 15% cheaper than the market price.

In HCM City, under the direction of HCM City People’s Committee, the stabilized rice price must be 10% cheaper than the market, but VFA has still proposed a reduction of 10-15% in rice prices depending on each region. – Source: Vietbiz24.com

Tags: Vietnam rice, Vietnam rice exports, Vietnam rice exports 2011

Posted by VBN on Oct 7 2011. Filed under Agriculture, Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry