State-run Northern Food Corporation, Vietnam's second-largest rice exporter, has agreed to supply Chile and Guinea with up to 100,000 tonnes each through auctions, state media reported on Friday.
The corporation, also known as Vinafood 1, would seek to sell 50,000 tonnes to 100,000 tonnes of rice in total to each of the nations at auctions later this month and in September, the Finances Ministry-run Vietnam Financial Times newspaper reported. Vietnam, now capable of exporting around 5 million tonnes of rice annually, is the world's second biggest exporter after Thailand.
So far this year, Hanoi-based Vinafood 1 has sold more than 400,000 tonnes of rice to Cuba, its main buyer, 50,000 tonnes to Iraq, 100,000 tonnes to Turkey, the newspaper said.
Vinafood 1, the country's second biggest rice exporter after the state-run Southern Food Corporation, planned to ship up to 400,000 tonnes to existing markets in the rest of 2006 and look for new buyers for 2007, the report said. Vietnam exported 3.34 million tonnes of rice in the first seven months of 2006, down 4.7 percent from a year, government figures show.
The Vietnam Food Association said contracts for 4 million tonnes had been signed so far this year and the Trade Ministry estimates 2006 rice exports should surpass the government target of 5 million tonnes.
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