The Hanoitimes - This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). Vietnam's top rice exporter Vietnam Southern Food Corp (Vinafood II) posted pre-tax profit of VND88.1 billion (US$3.79 million) in the first six months of 2018, compared to a loss of VND118 billion (US$5.08 million) recorded in the same period of last year, stated the company's financial statement. Illustrative photo. This result helped the firm reduce its accumulated loss from VND918 billion (US$39.52 million) to VND830 billion (US$35.73 million). In the January - June period, the company's revenue reached VND7.44 trillion (US$320.35 million), up 68% year-on-year, while gross profit margin increased by over three times year-on-year to VND659 billion (US$28.37 million). Vinafood 2 also recorded income of VND71.3 billion (US$3.07 million) from financial activities, up 2.2 times year-on-year, and … [Read more...] about Vietnam top rice exporter Vinafood II posts US$3.8 million profit in H1
Rice export vietnam
Vietnam rice exports notch volatile in Q1
Workers at Trung An Hi-Tech Farming JSC pack rice for export (Photo: VNA) Hanoi (VNS/VNA) - Vietnam’s rice exports faced an unpredictable first quarter this year, increasing in January, declining in February and recovering in March, according to the Ministry of Agriculture and Rural Development. An estimated 524,000 tonnes of rice were exported in January, with a total value of 249 million USD, reported the Ministry of Agriculture and Rural Development, representing a 49 percent rise in volume and 51.3 percent in value compared to December 2017. After declines in February, exports rose steeply in March, jumping 93.9 percent in volume and 100 percent in value to 338.44 million USD month-on-month. The rice export price also surged in March by 3.3 percent to 513.7 USD per tonne. The country’s overall rice exports in the first quarter of this year increased by 15.5 percent compared to the same period in 2017. The average rice export price in the first quarter of the current … [Read more...] about Vietnam rice exports notch volatile in Q1
Import demand continues boosting Vietnam’s rice export
Farmers dry unhusked rice in Hong Dan district, the Mekong Delta province of Bac Lieu (Photo: VNA) Hanoi (VNA) – High rice import demand from Vietnam’s major markets in the second quarter is expected to help exporters continue good overseas shipments in the first three months of this year. Some foreign news sources reported that in late March, the State Logistics Agency of Indonesia (Bulog) signed contracts to purchase 300,000 tonnes of rice from Vietnam and 200,000 tonnes from Thailand. This is the third time Indonesia has imported rice since the beginning of 2018. Chairman of the Vietnam Food Association (VFA) Nguyen Ngoc Nam confirmed the report, saying that Bulog invited the Vietnam Northern Food Corporation and the Vietnam Southern Food Corporation to supply the rice. This contract will be carried out from April to July this year. The Philippines, another major market, is also planning to import rice in large amounts in the second quarter, the VFA said, adding … [Read more...] about Import demand continues boosting Vietnam’s rice export
Thailand: Rice exports to drop in 2018
Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (Illustrative photo: VNA) Bangkok (VNA) – Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (TREA). The target was 18 percent lower than 2017’s 11.6 million tonnes. President of TREA Charoen Laothamatas explained that the strong baht caused a major difficulty for the country’s rice export as the prices of Thai rice have become less competitive. The baht increased nine percent compared to the US dollar in 2017 and increased by 3.1 percent in 2018 to be at 31.6 THB/USD. Laothamatas said the TREA will closely monitor exports in the first quarter of this year and, if the baht continues to rise, may revise the 2018 export target to below the previous forecast of … [Read more...] about Thailand: Rice exports to drop in 2018
Thailand to step up rice exports through inter-governmental deals
Thai rice - Illustrative image (Source: blackseagrain.net) Bangkok (VNA) – The Thai Government plans to boost rice exports by negotiating sales directly with other governments with the hope to support around 13 million local farmers – 20 percent of the country’s population. Officials will be sent to major importers of Thai rice in order to accelerate negotiations, said Adul Chotinisakorn, director general of the Commerce Ministry's Department of Foreign Trade, adding that in some countries in Asia, rice imports are completely controlled by government procurement bodies. Several Southeast Asian importers will be targeted, including the Indonesian government's procurement and logistics agency Bulog, the Philippines' National Food Agency and Malaysia's commodities procurement agency Bernas. According to the ministry's statistics, Indonesia and Malaysia import around 800,000 tonnes of Thai rice per year, while the Philippines imports 1 million tonnes. The … [Read more...] about Thailand to step up rice exports through inter-governmental deals