Rice traders in bangalore

Loading rice for export at Sai Gon port (Photo: VNA) HCM City (VNA) - Increasing global demand , stable domestic production , and better rice quality count among the reasons Vietnam can be confident its rice exports will prosper again in 2021 and surpass the 3.1 billion USD in revenue posted in 2020, despite a significant decline in the first two months of this year. According to figures from Vietnam Customs , Vietnam earned 192 million USD from shipping nearly 348,000 tonnes of rice overseas in January, down 34.2 percent in value and 36.4 percent in volume against December and 2.4 percent and 15.4 percent, respectively, year-on-year. As the Lunar New Year (Tet) holiday fell in February, the month’s export turnover is expected to be down. Nguyen Van Don, Director of Tien Giang province’s Viet Hung Limited Company, said the beginning of the year is never the peak time for trade, as consumers have already purchased rice for the long holiday period at the end of the previous year. Rice prices in the Mekong Delta are also at a high level, so purchasing businesses and foreign customers are all waiting for them to fall. General Director of the Trung An Hi-tech Farming JSC Pham Thai Binh said that transportation problems have also hampered rice exports in recent times. He pointed out that the country is facing a serious shortage of empty containers and cargo ships for exports. According to the Vietnam Food Association (VFA), there are high hopes being pinned on Vietnam’s rice exports in 2021, with major export markets such as the Philippines and Africa continuing to sign contracts, while many others have significant demand for fragrant rice and sticky rice, in which Vietnamese enterprises hold an advantage. Packaging rice for export (Photo: VNA) VFA Vice President and General Secretary Nguyen Trung Kien said that bilateral and multilateral free trade agreements (FTAs) such as the EU-Vietnam FTA and the UK-Vietnam FTA, which contain …

[Read more...] about Rice exports to see bright outlook this year

Some billionaires have made big investment in agriculture with an ambitious plan to build a strong brand for Vietnam’s farm produce, but they do not expect to make a profit in the short term. Soc Trang ST25 rice Decade of investment Vinaseed (NSC) of Nguyen Duy Hung and Vinmart of billionaire Nguyen Dang Quang have reached an agreement on the distribution of ST25, recognized as the world’s best rice variety in the world, within the Vinmart and Vinmart+ network nationwide. Soc Trang’s ST25, cross-bred in 2010, is now grown on a large scale in Mekong Delta. The famous scented rice variety of Soc Trang gives high yield which can be farmed for two or three crops a year. Meanwhile, Thailand’s scented rice is a long-term variety and there is only one crop a year. ST25 has been distributed throughout the country for 10 years thanks to efforts by Hung and Quang. The task of building Vietnam’s rice brands and improving rice production so that Vietnamese no longer want foreign rice has been partially implemented. Large corporations and prestigious businesspeople have created changes in the thinking about rice production. Doan Nguyen Duc, or Boss Duc, president of Hoang Anh Gia Lai (HAG), who laid a foundation for large-scale agricultural production with billions of dollars poured into his projects has reaped fruit in the agriculture sector. Duc said he will continue to develop agricultural production in an ambitious plan to build an "outstanding Vietnamese agricultural empire" in Southeast Asia. Two years after the signing of a cooperation agreement with Thaco, HAGL Agrico has more potential than ever. The huge land bank owned by HAGL Agrico and its potential were why Tran Ba Duong, president of Thaco, an automobile manufacturer, agreed to pour money into the company. It is estimated that $1 billion was invested by Thaco into Duc’s enterprises, mostly in the agricultural sector. HAGL was well known as a big real estate firm, but is now better …

[Read more...] about Big businesses pour money into agriculture, expect no profit in short term

The Hanoitimes - With the relocation of the capital and a comprehensive reform, Ly Cong Uan (King Ly Thai To) and his descendants succeeded in building a strong nation. Peaceful ascension to the throne The kings of the Early Le Dynasty, founded in 980, embarked on effective reforms to stabilize the political and economic situation. However, the decease of king Le Dai Hanh in 1005 led to infighting within the royal family for succeeding him. In the end, Le Dai Hanh’s fifth son, Le Long Dinh, defeated other princes to claim the crown. However, the brutal struggle that he fought for the throne caused resentment among the people. The statute of Ly Cong Uan in Hanoi. Photo: Jenna Duong. In 1009 when Le Long Dinh died at the age of 24 and his children were very small, Ly Cong Uan, a talented dignitary was supported by other court officials to ascend to the throne, peacefully seizing power from the Le. It is known as the most peaceful change of dynasty in the country’s history. From moving the capital to reforming the country Ly Cong Uan was crowned in the context of a serious political and socio-economic crisis and the threat of invasion from the Chinese Song dynasty. He was determined to end the political crisis that lasted through several reigns and bring stability to his kingdom. His  first decision as king was to move the capital from Hoa Lu (Ninh Binh) to Dai La (Hanoi now). Hoa Lu was chosen by King Dinh Tien Hoang (924-979) as seat of his court to suit the needs of defending the nation in the early days after the civil wars. It was more appropriate for defense purposes as it is located in a low land surrounded by limestone mountains. However, it was difficult to develop an urban city here as traffic was inconvenient and its location is too distant from the thriving economic centers in the Red River Delta. In autumn of 1010, King Ly Thai To decided to move the capital of the kingdom to Dai La, mindful that the place …

[Read more...] about King Ly Thai To makes a milestone in the city’s history