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Vietnam Ups 2010 Rice Export Estimate to 6-6.2 Mln T

Source: Reuters
29/10/2009

Mactan, Philippines, Oct 29 - Vietnam, the world's second-largest rice shipper, is now looking to export between 6.0 million and 6.2 million tonnes of rice in 2010, up slightly from a previous estimate of 6.0 million tonnes, a senior government official said on Thursday.

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Vietnam has reached its annual target to export a record 6 million tonnes of rice this year, it said earlier this month.

"For 2010, we're looking at 6.0 million to 6.2 million tonnes," Pham Van Du, deputy director general at Vietnam's Ministry of Agriculture and Rural Development, told Reuters on the sidelines of a rice conference in Cebu.

Du earlier said Vietnamese exporters were in discussions for further shipments that could take 2009 exports to 6.3 million tonnes.

But the official said on Thursday part of those shipments could spill over to 2010.

Vietnam is fast catching up with Thailand, the world's largest rice exporter, because of its lower prices and ample stocks following a bumper harvest last month in the Mekong Delta.

Du said paddy rice output in 2010 is likely to be similar to this year's projected production of 39.3 million tonnes, up from 38.63 million in 2008, with recent storms largely sparing the main rice-growing region in southern Vietnam.

Vietnam is now preparing for Manila's import tender for 250,000 tonnes of 25 percent broken rice on Nov. 4 and Du said winning it could open more discussions with the Philippine government.

"Vinafood 2 is going to discuss exporting to the Philippines with the NFA (Manila's National Food Authority), and there's a need to win the tender," he said.

State-run Vinafood 2, Vietnam's largest rice exporter, sold 1.5 million tonnes of rice to the Philippines in an inter-government deal in January, comprising nearly 85 percent of Manila's total 2009 imports of 1.775 million tonnes.

Traders say Vietnam could secure up to 170,000 tonnes at the tender given its lower prices and ample stocks.



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