Vietnam to export rice to India

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SaigonTimes English - 65 month(s) ago 3 readings

HCMC – Vietnam will likely reach another government-to-government rice export contract as the Indian government has announced to buy two million tons of rice from Vietnam and Thailand.

Vietnam to export rice to India

By Hong Van - The Saigon Times Daily

HCMC – Vietnam will likely reach another government-to-government rice export contract as the Indian government has announced to buy two million tons of rice from Vietnam and Thailand.

Though foreign newspapers reported that India needed two million tons of rice, the Indian Agency of Foreign Affairs has asked the Vietnam Food Association (VFA) to export up to three million tons, VFA chairman Nguyen Tho Tri told the Daily on Monday. Local enterprises are capable of meeting the request due to the large rice stock in the country.

The export to India will not affect the nation’s food security although traders had signed contracts to sell six million tons this year, Tri said. The delivery may fall in January or February when local farmers harvest the bumper winter-spring crop.

Vietnam can supply only white rice that accounts for only 20%-30% of India’s rice demand and local exporters can implement the contract if export prices are reasonable, Tri says.

Domestic exporters earlier shipped a large amount of rice to India but then got into problems due to slow quality checking procedures at ports. Some enterprises incurred losses due to poor checking results and transport costs.

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