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Rice export from Can Tho City on the steep rise

Trung Chanh
Thursday,  Oct 5,2017,17:10 (GMT+7)
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Rice export from Can Tho City on the steep rise

Trung Chanh

Farmers harvest rice in a paddy fi eld. The rice export is forecast to rise sharply by the end of the year - PHOTO: TRUNG CHANH

CAN THO – Rice export shipments from the Mekong Delta city of Can Tho have surged by 22% year on year in the past three quarters to 638,000 tons worth US$262 million, and the tempo is expected to continue as regional demand remains strong, said a trade official.

The demand for Vietnamese rice in many countries like Bangladesh, Iran and China is forecast to rise sharply in the remainder of the year, said Huynh Trung Tru, deputy director of the Department of Industry and Trade of Can Tho City.

Tru said at a meeting on the import and export situation that the city’s rice export that has fared well in the year to date is projected to grow in the remaining months.

In particular, Bangladesh is expected to purchase around 500,000 tons of rice by the end of this year.

“They need around 250,000-300,000 tons this month alone. Local rice producers are likely to have registered with the Vietnam Food Association (VFA) to tender for this amount of rice,” he said.

He added the demand for rice among other markets like China, Singapore and Iran has been still strong. Notably, an Iranian partner has secured a deal with a local rice exporter to purchase around 100,000 tons which will be shipped to Iran for the first time by end-2017.

He stressed if the export to Iran is favorable and sustainable, the partner will clinch a longer-term contract which is good for local farmers.

Meanwhile, Huynh The Nang, former general director of the Vietnam Southern Food Corporation (Vinafood 2), said in a report to the Daily that as of August, domestic rice exporters had registered to ship 5,157 million tons. Having subtracted the amount of rice already delivered, the remainder to be shipped is roughly 1.3 million tons.
The VFA forecast Vietnam is likely to export about 5.6 million tons of rice this year, with 1.8 million tons set to be shipped in the last quarter.

In related news, Can Tho’s Department of Industry and Trade said in a report that the city exported goods worth over US$1 billion in the year to September, meeting 75.8% of the full-year target and rising 16.9% year-on-year.

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