Businesses to sell rice to Cuba

Updated : 6:03 PM, 06/04/2010

Businesses to sell rice to Cuba

The Ministry of Industry and Trade (MoIT) will work with the Northern
Food Corproation (VinaFood 1) to increase rice exports to Cuba to
alleviate a food shortage there, says Deputy Minister Ho Thi Kim Thoa.

Cuba is one of Vietnam's rice importers with a volume of around 400,000
tonnnes per year, Ms Thoa says, adding that VinaFood 1 will become a
primary export agent to this market.

According to Vietnam's trade office in Cuba, the Latin American nation
has around 6.6 million hectares of arable land but only 2.9 million
hectares under cultivation. Especially, since the beginning of the year,
climate change and droughts have seriously affected food security in
Cuba. Currently, the government of Cuba has a plan to repay loans from
Vietnam and hopes the MoIT will direct agents like VinaFood 1 to
continue exporting rice to Cuba.

According to MoIT statistics, trade between Vietnam and Cuba is growing
rapidly. Vietnam's main export items to Cuba are rice, coal,
electronics, and home appliances while its major import item is
pharmaceuticals.

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