Vietnam rice exports to fall 15%-20% because of war
HANOI - Vietnam's rice exports will fall 15%-20% because of difficulties in sending
shipments to Iraq due to the conflict there, an official from the state-run Vietnam Food Association said Friday.
"The war is seriously affecting trade, so we have to find another market to make up for the 15-20% of total rice
exports that goes to Iraq," said the official, who declined to be named.
Last year, Vietnam exported 800,000 tons of rice to Iraq
under the oil-for- food program administered by the United
Nations, the official said. The U.N. suspended the
oil-for-food program earlier this week ahead of the conflict.
"We cannot buy insurance for the rice exports, or find ships
that will take the rice," the official said.
In a rare meeting with foreign journalists in February,
Vietnam's Deputy Prime Minister Vu Khoan said Iraq was an
important market for Vietnam.
Exports from Vietnam to Iraq are worth $500 million a year,
the main products being rice, tea and vegetable oil, Khoan
said.
Last year, Vietnam exported a total of 3.24 million tons of rice.
By Sam Taylor - Dow Jones - March 21, 2003.
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