Vietnam earned 1.5 billion U.S. dollars from rice export in the first half of this year, almost double the figure of the same period last year, though the rice export volume went up by only six percent to 2.5 million tons, Vietnam News Agency reported Tuesday.
According to the General Statistic Office and the Ministry of Agriculture and Rural Development, rice is now Vietnam's fifth largest foreign currency earner.
The bumper harvests in both southern and northern regions promise a total output of 37 million tons of paddy this year, one million tons more than the output of last year.
Therefore, the government is likely to raise rice export quota this year to 4.5 million tons, equal with the figure of last year. The domestic rice market is also expected to cool down, said the agency.
Vietnamese 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 few months of this year, as farmers in northern provinces are faced with great challenges, including serious droughts, the most severe cold spells in the past 40 years, and the increases of agricultural materials prices.
The government earlier this year had to order a temporary ban on the signing of rice export contracts to ensure national food security.
Source:Xinhua
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