|
Vietnam rice-stocks dwindle, eyes on Manila tender
11/18/2005
HANOI, Nov 17 (Reuters): Vietnam, the world's second- largest rice exporter, is running out of stock during the period between crops but exporters have a big enough stockpile to meet loading demand for Indonesia and the Philippines, traders said.
They said Vietnam had started loading for a contract of up to 300,000 tonnes for Indonesia. The deal executed by Vinafood 2, Vietnam's biggest rice exporter, and its affiliates is for shipment this month and in December.
New demand has also emerged as the Philippines said it would hold a tender on Dec. 8 to buy 350,000 tonnes of 25 percent broken rice for shipment between January and March next year.
"Exporters have sufficient stocks for the two buyers while the prices on domestic markets have been rising as farmers have sold out," said a trader in Ho Chi Minh City.
|