Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Rice Exports From Vietnam Beat Thailand on Stockpiling Policy

Oct. 1 (Bloomberg) -- Vietnam, the world’s second-largest rice exporter in 2011, shipped 5.82 million metric tons this year through Sept. 27, beating rival Thailand, which is buying the grain from local farmers at above market prices.

Shipments last month through Sept. 27 were 719,619 tons, the Vietnam Food Association said in a statement on its website. Thai rice exports tumbled 45 percent to 4.88 million tons for the year through Sept. 24, according to the Thai Rice Exporters Association. Sales declined after the government implemented its stockpiling program to boost farmer incomes, increasing costs for exporters, according to the group.

Vietnam exported a record 7.11 million tons in 2011, according to the food association. The country will match or exceed last year’s exports in 2012, Cao Duc Phat, agriculture minister, said last month.

Thailand is targeting exports of about 8.5 million tons this year, surpassing an estimated 8 million tons from India and 7 million tons by Vietnam, according to the Commerce Ministry.

To contact Bloomberg News staff for this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.