Vietnam to stockpile 1 million tons of rice in winter-spring crop to help increase prices

Nevin Barich

Nevin Barich

HANOI, Vietnam , March 6, 2014 () – Vietnam, the world's second-largest rice exporter, will stockpile one million tons of rice in the winter-spring crop to help boost prices, authorities said Thursday.

The stockpile will run from March to mid-April, the Vietnam Food Association said, which will affect Vietnam's biggest rice-producing region, the Mekong Delta.

Around 10.3 million tons of unhusked rice is expected to be produced in the Mekong Delta during this period, the Ministry of Agriculture and Rural Development (MARD) said.

Export volume fell sharply in the first two months of this year and is predicted to remain low in the coming months due to weak demand in the global market and strong competition from other rice exporters, including Thailand, India and Myanmar.

A number of rice exporters have asked the government to boost exports to countries including China, Indonesia and the Philippines.

Vietnam plans to export 7 million tons of rice this year, up from 6.88 million tons, worth 2.89 billion dollars, last year.

# dpa NOTEBOOK

© 2014 dpa

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.