[null, {"document_url": "https://www.talkvietnam.com/tag/export-credit-guarantee-corporation-of-india/", "unformatted_src": "http://img.cdn2.vietnamnet.vn/Images/english/2016/09/26/10/20160926100201-vinafood-2.jpg", "src": "http://img.cdn2.vietnamnet.vn/Images/english/2016/09/26/10/20160926100201-vinafood-2.jpg", "formatted_filename": "vinafood", "alt_text": "Giant rice exporter incurs huge loss", "rendered_width": 340, "rendered_height": 200}, null]
You are here: Home / Archives for Export credit guarantee corporation of india

Export credit guarantee corporation of india VietNamNet Bridge - The Southern Food Corporation, also known as Vinafood 2, one of two of Vietnam's largest rice exporters, has reported an accumulative loss of VND1 trillion ($45 million). Vinafood 2’s latest report showed that the corporation has had difficulties since 2012. It made a pretax profit of VND167 billion in 2012, but then took a loss of VND268 billion in 2013 and VND900 billion in 2014. Explaining the bad business performance, Vinafood 2 blamed the stiff competition in the world market. In the high-end market segment, Vietnam has to compete with Thailand, which has lowered selling prices in an effort to clear its stocks. Meanwhile, in the low-cost market segment, the plentiful supply from India makes it difficult for Vietnam to export products. When asked about the huge loss of VND900 billion in 2014, Vinafood 2 said when it won the bid of providing 600,000 tons of rice to the Philippines, the domestic rice price unexpectedly increased. As a result, Vinafood 2 … 