Trung Chanh
Workers are seen at a rice storehouse in Tien Giang Food Company. The total rice inventory of enterprises is lower the volume needed for deliveries after September 19 - Photo: Trung Chanh
According to a local well-informed source, the current rice inventory of member enterprises of the Vietnam Food Association (VFA) is lower than the export volume under contracts enterprises have signed.
The rice export volume of signed contracts recorded as of September 19 reached 6.399 million, inclusive of 450,000 tons carried over from last year, while the rice volume that has not been delivered after September 19 is 1.54 million tons.
However, the total rice inventory of enterprises under VFA is only 1.44 million tons, meaning a shortfall of 100,000 tons.
Besides, if enterprises sign more export contracts from now towards the year-end, the volume they need to buy in the domestic market will be higher.
Moreover, at least 900,000 more tons of rice is needed if rice traders are to realize the year’s newly-revised export target of 7.2 million tons.
In addition, if rice traders store rice late this year for new contracts with the delivery time early next year under normal practices, the amount in need will be much greater than 900,000 tons, the source explained
The source said that recent information about the local rice market and rice export on newspapers was like smokescreen which was unfavorable for farmers and traders with rice in stock. Therefore, farmers and traders need to remain calm and should not sell rice when the price is low as the rice demand of enterprises will be heavy in the coming time.
Early this month when VFA reported that the Thai government was selling the 100% B rice, equivalent to Vietnam’s 5% broken rice, at only US$380 per ton, the local rice price dropped to VND4,000-4,100 per kilogram of IR 50404 rice from VND4,600-4,700.
However, the website on the rice market Oryza.com stated that the selling price of Thailand’s 100% B rice at that time was US$420-430 per ton and remains stable until now.
Đăng ký: VietNam News