Business
New rice contracts signed after Tet
Many foreign partners have come to Mekong River Delta localities to sign rice purchasing contracts after the Lunar New Year festival (Tet).
Recently, a delegation of businessmen from Hong Kong signed a contract to import around 7,000-8,000 tonnes with enterprises in Soc Trang province. They said that they will explore the market and sign more contracts in the future.
The President of the Vietnam Food Association (VFA), Truong Thanh Phong, said that VFA has exported nearly 40,000 tonnes of rice to Hong Kong and expects to sign more contracts to ship rice to this market.
In the Mekong Delta, the price of paddy at factories now stands at just VND5,500-5,700 per kilo, down VND450 per kilo compared to last month, leading to a decrease in the retail price of rice to only VND7,300 – 7,500 per kilo, down VND400-600 per kilo.
The price of export rice, is now just VND7,900-8,700 per kilo, down VND500-700 per kilo for different types.
According to VFA, there will not be remarkable changes in Vietnam’s rice output in 2012 and the country is expected to export 6.5-7 million tonnes of rice.
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