Vietnam May Reduce Rice Exports

Vietnamese state media reports have quoted some government officials as saying that Vietnam may permanently reduce rice exports by 2010 and beyond to ensure domestic food security for its growing population.

Outward shipments from the world's second largest rice exporter could be capped at 4.3 million MT a year by 2015 and 3.8 million MT by 2020, according to a report in the state-run Vietnam News daily.

Government experts stressed that the plan was currently under consideration by the Ministry of Agriculture and Rural Development and would require the approval of the government leadership of the communist country.

World grain prices have skyrocketed this year, a trend blamed on higher energy and fertilizer costs, greater global demand, droughts, the loss of farmland to biofuel plantations, industry and cities, and price speculation.