Rice export earning doubles

Hanoi (VNA) - Vietnam 's earnings from rice exports reached 1.5
billion USD in the first half of this year, almost double the figure of the same period last year, though the rice export volume was up by only 6 percent to 2.5 million tonnes.

According to the General Statistic Office and the Ministry of Agriculture
and Rural Development, rice is now Vietnam 's fifth largest foreign
currency earner, representing about 20 percent of the country's total
agriculture, forest and aquatic product export value.

The bumper harvests in both southern and northern regions promise a total
output of 37 million tonnes of paddy this year, more than 1 million tonnes
over last year. Therefore, the government is likely to raise rice export
quota this year to 4.5 million tonnes, equal with the figure of last year.
The domestic rice market is also expected to cool down.

Businesses have signed contracts for exports of 3.5 million tonnes of rice
in the first nine months of this year.

Prime Minister Nguyen Tan Dung has asked the Ministry of Industry and
Trade and the Ministry of Agriculture and Rural Development to assist
businesses in purchase and export of rice.

Commercial banks are also required to ensure capital for rice exporters.

Rice production became one of the hottest issues in the first months of
this year as farmers in northern provinces faced many challenges,
including serious droughts, the most severe cold spells in the past 40 years
and the increases of materials prices.

The government earlier this year had to order a temporary stop to the
signing of rice export contracts to ensure national food security.-Enditem