VFA: Rice Exports Down 9.72 Pct Against 2011February 23, 2012 (Vietnamica) — According to the Vietnam Food Association (VFA), the country would export 6.5 million tons of rice this year, down 9.72 percent against 2011. The domestic rice market would undergo a tough year of 2012 due to domestic costly large stockpiles, price competition, and reduced global rice trading (VNS, Feb. 15).
February 23, 2012 (Vietnamica) –Dak Lak – the largest coffee growing province in Vietnam – has implemented a policy to limit coffee bean exports in order to encourage and promote well-processed coffee. In light of this, the province is calling on domestic and foreign investors to build roasted and instant coffee factories with capacities from 700 to 1,000 tons/per year respectively (VNS, Feb.15).
MARD: Coffee Exports to Reach US$3 Bln in 2012February 22, 2012 (Vietnamica) — The Vietnamese Ministry of Agriculture and Rural Development (MARD) has forecast that coffee exports would reach 1.2 million tons (in volume, as same as 2011) and US$3 billion (in value, up 10 percent) (VGP, Feb 14).
February 22, 2012 (Vietnamica) – The country’s oil minister expelled the head of Chinese-Malaysian oil consortium Petrodar (Reuters)amid rising tensions between Juba and Chinese oil firms. South Sudan, which recently shut down its oil output, has accused the firms of helping neighboring Sudan steal its oil.
February 22, 2012 (Vietnamica) — U.S. dollar gold prices held steady just off $1760 an ounce during Wednesday morning trading in London, after a rally in Tuesday’s US session saw gold climb 1.3%. Silver prices softened slightly but held above $34 per ounce – having through that level on Tuesday following the Greek bailout announcement. Stocks and commodities edged lower this morning, while government bond prices gained.
Vietnam Airlines to Hold 69.93 Pct of Jetstar PacificFebruary 22, 2012 (Vietnamica) – Australian carrier Qantas unveiled that Vietnam Airlines will hold 69.93 percent of the low-cost airline Jetstar Pacific following an arrangement with the Vietnamese State Capital Investment Corporation. Qantas owns 30 percent of Jetstar Pacific (AFP, Feb. 22).
