Vietnam food association

Vietnam’s rice remains favorite in the international market despite fierce competition. Vietnam exported nearly 4.2 million tons of rice during the first seven months of 2022, representing an increase of over 20% year-on-year, according to the Ministry of Agricultural and Rural Development (MARD). Rice production for exports at Loc Troi Company . Photo: Nguyen Binh “Despite fierce competition, Vietnamese rice products continue to be among the favorites in the international market,” stated the ministry in a report. During the January-July period, Vietnam exported 4.19 million tons of rice for over US$2 billion, an increase of 20.5% year-on-year in volume and 9% in value. Among Vietnam’s major markets, the US recorded the highest growth with an increase of 65.3% in rice imports during the first half, followed by the Philippines with 48.6%. The Philippines remained Vietnam’s largest rice buyer and made up 44.5% of total exports. Rice demands from African … [Read more...] about Vietnam’s rice exports hit a record high

Truong Hai Auto Corporation (THACO), a typical successful firm in Vietnam's automobile sector, has been investing heavily in mechanics and the manufacturing of accessories. THACO leaders shared the firm’s journey to resolve the issue: increasing the localization rate or surrendering to auto imports flooding the local market. They also shared the one-stop model to help other Vietnamese enterprises cooperate to develop, thereby improving the internal power of Vietnam’s industry. THACO chairman Tran Ba Duong said at a meeting with mechanical enterprises that “you have technology and machinery. We will build factories and lease them at low prices.” “If we fail to demonstrate our commitment, you can take your machinery away. “We will not go back on our words. Only actual acts and thoughts will create values." Refreshing itself by enhancing investment Returning to Chu Lai Industrial Park in central Quang Nam Province nearly three years after Tuoi Tre (Youth) newspaper held … [Read more...] about Vietnam’s THACO and philosophy of no surrender

MDF production line at Thanh Thanh Dat MDF JSC's factory in Ha Tinh province. (Photo: VNA) Hanoi (VNS/VNA) - While many products exported to the UK enjoyed strong increases thanks to the UK-Vietnam Free Trade Agreement ( UKVFTA ), Vietnam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies. In fact, Vietnam’s wood industry is seeing declining sales overseas. The export value in July was estimated at 1.41 billion USD, down 5.5% against June and 1.6% year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products reached 1.4 billion USD in June, down nearly 11% year-on-year. Ending July, wood and wood products were … [Read more...] about Vietnam’s timber industry urged to seek new opportunities in UK

Vietnam strives to restore tourism back to the state of 2019 before the Covid-19 pandemic broke out. Vietnam’s latest tourism planning places emphasis on the sustainable development of the industry to make it the spearhead in the country’s economy in the years to come. Overview of the conference held on August 9. Photo: MCST The issue was discussed at a conference held on August 9 which gathered domestic and foreign officials and experts to provide ideas for Tourism Planning for the period 2021-2030 and a vision for 2045. The planning has many important points, including quality, efficiency, and competitiveness of an industry that generated US$32 billion in 2019 (before the Covid-19 pandemic). It aims to restructure the tourism industry with spatial orientations and development solutions coupled with the planning of tourist sub-regions, maritime tourism, among others. Vietnam’s tourism industry needs to be oriented by a long-term vision, based on … [Read more...] about Vietnam seeks ways to boost competitiveness of tourism

Global wheat consumption is headed for its biggest annual decline in decades as record inflation forces consumers and companies to use less and replace the grain with cheaper alternatives, amid growing food insecurity. Consumers may face even higher wheat prices in the second half of 2022 as importers, who until now have supplied cargoes bought several months earlier at cheaper prices, pass on the costs from when wheat prices scaled decade highs in May. Global wheat consumption in July-December could drop by 5%-8% from a year ago, analysts, traders and millers say, much faster than the U.S. Department of Agriculture's forecast 1% contraction. "There is going to be a drop in wheat demand for animal feed in Europe and China. Wheat demand for human consumption has also slowed in key importing countries around the world," said Erin Collier, an economist at UN's Food and Agriculture Organisation. "High prices have raised food security worries in parts of Asia and Africa where … [Read more...] about Analysis: As wheat prices soar, the world’s consumers vote with their feet

A booth at the festival (Photo: VNA) HCM City (VNA) – More than 1,000 kinds of Vietnamese spices have been put on show at a four-day festival that kicked off in Ho Chi Minh City on April 28. Ho Chi Minh City Food and Foodstuff Association . Vietnam ese spice map made debut, popularising spice products granted with the geographical indication and those that satisfy the One Commune One Product (OCOP) standards. A booth at the festival (Photo: VNA) Le Huynh Minh Tu, Deputy Director of the municipal Department of Industry and Trade, said the move has also created momentum for businesses in the industry to develop sustainably, and helped improve public awareness and knowledge about domestic farm produce and spices. VNA … [Read more...] about Over 1,000 spice products on display in Ho Chi Minh City

SCG’s Q2/2022 operating results show continuous revenue growth despite energy costs’ effects on profits, maintaining robust financial standing. Roongrote Rangsiyopash, president and CEO at SCG disclosed, “Despite volatile situations with crisis upon crisis such as inflation, rising interest rates, increased energy and raw material costs, and climate change, SCG continues to adapt, resulting in strong overall business and financial performance. Innovative product and service developments are in full gear, especially eco-friendly items with SCG Green Choice labels and innovations to meet consumers’ demands for safety and convenience, catering to the tourism and service sector’s recovery as borders fully open." "Moreover, strategic investments are being prioritised, resulting in the delay of new projects that are non-urgent while still going through with quick-return projects and ones that are aligned with the company’s long-term growth plans. This includes the Long Son … [Read more...] about SCG accelerating strategies to address myriad of challenges

SINGAPORE/MUMBAI -- Adverse weather across top rice suppliers in Asia, including the biggest exporter India, is threatening to reduce the output of the world's most important food staple and stoke food inflation that is already near record highs. Rice has bucked the trend of rising food prices amid bumper crops and large inventories at exporters over the past two years, even as COVID-19, supply disruptions and more recently the Russia-Ukraine conflict made other grains costlier. But inclement weather in exporting countries in Asia, which accounts for about 90% of the world's rice output, is likely to change the price trajectory, traders and analysts said. "There is an upside potential for rice prices with the possibility of production downgrades in key exporting countries," said Phin Ziebell, agribusiness economist at National Australia Bank. "An increase in rice prices would add to already major challenges for food affordability in parts of the developing world," Ziebell told … [Read more...] about Analysis: Global rice supplies at risk as harsh weather hits top exporters

Photo: Monks and Khmer people in Phum Soc villages in Soc Trang province decorate the temple grounds to welcome the new year. (Photo: VNA) Hanoi (VNA) - Chol Chnam Thmay New Year is the biggest festival on the Khmer calendar, which takes place around mid-April of the solar calendar every year. The festival expresses the wish for a new year of favourable rain and wind, and bountiful crops. These days, coming to temples of the Khmer ethnic group in the south, visitors will be immersed in the bustling atmosphere to welcome the Chol Chnam Thmay traditional New Year. According to locals, this is the time between rainy and dry seasons with lush vegetation, considered as the beginning of a favourable year. Chol Chnam Thmay Festival usually takes place around mid-April every year. If the Thanh Minh (grave-visiting) is an occasion for Vietnamese and Chinese people to look to the past to remember their ancestors and deceased relatives, take care of and repair graves, the Khmer … [Read more...] about Chol Chnam Thmay – biggest festival of Khmer people

At the event (Photo: congthuong.vn) The event, which will last until August 7, is organised by the Department of International Trade Promotion (DITP) under the Ministry of Commerce of Thailand. It features nearly 100 booths with Thai outstanding products ranging from food, beverages, home appliances, garments, cosmetics and beauty products. Visitors to the fair can enjoy Thai traditional food and art performances at the same time. Suparporn Sookmark, Director of the Thai Trade Centre in HCMC, said it’s time for Thai enterprises to increase business activities and stimulate consumer demand in the city, given its economy has recovered significantly in the post-Covid-19 period which has led to high demand for consumer products. The event is expected to offer a chance for enterprises from the two countries to seize business opportunities and expand their product distribution networks. Nguyen Van Nga, an official from the Ministry of Industry and Trade, appreciated the event’s … [Read more...] about Mini Thailand Week 2022 opens in HCMC