Q1 rice exports projected to increase The Saigon Times Daily Farmers work on a paddy field in the Mekong Delta in this file photo. Vietnam’s rice exports in the first quarter of the year are forecast to rise – PHOTO: TRUNG CHANH HCMC – Vietnam’s rice exports in the first quarter of the year are forecast to rise, the Agro Processing and Market Development Authority told a press briefing on January 22, local news site VnEconomy reported. Local rice exporters have received several orders from the Philippines and Indonesia this month. The demand for rice is forecast to rise in these two markets as they have been severely hit by natural disasters. After the Philippines lifted restrictions in rice-importing policies, 166 firms there applied to purchase one million tons of rice, while many orders for Vietnamese rice were recorded. Rice exporters will be subject to the import tariff rate of 35% if their rice products originate in ASEAN countries and 50% for origins in non-ASEAN countries, according to the Philippines’ new policies for rice exports. Although local rice exporters now find it easier to ship rice to the Philippines, they have to compete seriously with other rice exporters in Cambodia, Myanmar and Thailand. In addition, they may face obstacles as China, a traditional buyer of Vietnamese rice, has adjusted its policies on cross-border trade and increasingly invested in rice production in Cambodia, Myanmar and Thailand. Apart from that, exports of pepper and aquatic products are forecast to bounce back early… [Read full story]
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