Rice market is bustling until early 2016

Chairman of the Vietnam Food Association Huynh The Nang affirmed that the rice market will be bustling until early 2016.

Up to this point, Vietnam's rice export situation continues to show positive signs, quite different from the situation from mid-September onwards. When the Southern Food Corporation (Vinafood 2) won the bid to supply 450,000 tons out of a total of 700,000 tons to the Philippines, the domestic price of paddy and rice increased. This shows signs of a more positive market when businesses said they would sell an additional 1 million tons of rice to other markets.

Regarding this issue, the reporter of VTV in the Mekong Delta region interviewed Mr. Huynh The Nang, Chairman of the Vietnam Food Association (VFA), General Director of the Southern Food Corporation (Vinafood 2), about the rice export situation in the coming time.

PV:The rice market in the Mekong Delta is “warming up”. So, do you think this favorable trend will continue into the next winter-spring crop?

Mr. Huynh The Nang:According to what has been happening in the Vietnamese rice industry at this time, the most recent meeting of the Executive Committee of the Association also had an opinion that I found to be a bit of a reversal compared to the opinion from mid-September and earlier.

From the time the market was very quiet until after September, it started to become active again. Those signs are very clear in the process of buying and selling rice in the Mekong Delta. I am imagining, with establishments that have a market, the situation of buying and selling exported rice in the first months of 2016 may still be good.

Mr. Huynh The Nang - Chairman of Vietnam Food Association (VFA), General Director of Southern Food Corporation (Vinafood 2) - answered the interview.

PV:How will the effects of this year's flood season affect the winter-spring rice crop production and the supply for rice purchasing businesses, sir?

Mr. Huynh The Nang:The main issue is how to organize production. Harvest the autumn-winter crop and organize the winter-spring crop. Overall, this year the water level in the Mekong Delta is low. Some areas have the ability to organize production early.

According to the Southern Region Crop Production Department, the early harvest area in December and January will have rice harvested. This is very important information to determine the production and consumption.

PV:So, according to you, has member businesses prepared enough supply of rice for export?

Mr. Huynh The Nang:Currently, almost all enterprises in the Vietnam Food Association have signed contracts and have prepared enough goods, basically enough for the first quarter.

Some businesses that are a little short will buy more at the end of this autumn-winter harvest and the early harvest of the winter-spring rice crop. Businesses are completely calm to satisfy two requirements at the same time for the rice industry to both maintain the price of rice for farmers and avoid risks for businesses in the coming time.

PV:Thank you!

According to VOV.VN