VN Bus. News (Apr. 17, 1997)

[Vu Thanh Ca <vuca@envi.env.civil.saitama-u.ac.jp>]

Apr 17: Vietnamese rice farmers stuck with unsold rice ... 
Apr 17: Asian Cash Coffee Up; Vietnamese Sellers Emerge Aggressively
Apr 17: NIDEC to Manufacture HDD Motor Parts in Vietnam 
Apr 17: Senior ASEAN economic officials begin talks in Vietnam 

Vietnamese rice farmers stuck with unsold rice ... 

HANOI (AFP) - A bumper rice harvest and slumping world prices have
resulted in massive stockpiles of unsold Vietnamese rice being held by
farmers, local reports said Thursday.

Farmers in Vietnam's southern Mekong Delta ricebowl have produced a
record 5 million tonne winter crop which they are unwilling to sell at
prevailing market prices, said the official Vietnam News daily.

Although the government has set a price floor of 1,600 dong (13.7
cents) per kilogram, private traders who dominate purchases from
farmers are offering only 1,100 to 1,200 dong.

Rice exports, which are government controlled and conducted by
licenced companies, are also suffering because trading companies
cannot obtain proper finance and lack adequate storage facilities, the
paper reported.
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Asian Cash Coffee Up; Vietnamese Sellers Emerge Aggressively

SINGAPORE (Dow Jones)--Asian cash coffee prices are higher late
Thursday as futures gains encourage Vietnamese farmers and exporters
to sell, traders said.

The Vietnamese cash market has seen increased selling interest for its
grade 2 coffee (8% black and broken beans) since late Wednesday when
the local price moved up to 14,800 dong/kg ($1=11,656 dong), from
14,200 dong/kg, a Daklak-based trader said. The local price rose on
the back of substantial gains on New York's Coffee, Sugar and Cocoa
Exchange.

In New York Wednesday, May CSCE shot up 15.65 cts/lb to 208.05 cts/lb,
while the July position moved 10.65 cts/lb higher to 185.30 cts/lb,
boosted by bullish stock figures released at the close Tuesday and
news of strikes in the world's leading coffee-producing countries.

International export houses are buying Vietnamese grade 2 at
$1,350-$1,380/ton for prompt shipment FOB, traders said. However, the
quantities traded in the last few days are generally small, they said.
Only 30,000-40,000 metric tons are thought to remain in the country,
traders said.

In Indonesia, prices for the country's benchmark robusta EK 1 grade 4
(80 defects) are steady to firmer Thursday though recent aggressive
selling is seen tailing off ahead of Friday's Hari Raya Haji holiday
and the start of the academic year there, a Jakarta-based trader said.

'Most of the exporters have made enough money to pay school fees which
have to be paid in advance of July and to celebrate the Moslem
holidays,' he said.

Liffe May finished $37/ton higher at $1,615/ton while the July
position gained $35/ton to close at $1,630/ton on fund buying prompted
by U.S. stock figures.

Liffe coffee futures are seen opening unchanged Thursday, traders
said.

'London has no reason to come off,' the Daklak-based trader said.
'There's no shortage of robustas in the world so no-one's worried.'

-By Sarah Moore 65-421-4823
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NIDEC to Manufacture HDD Motor Parts in Vietnam 

Comline Daily News Electronics

NIDEC will be manufacturing motor parts for HDDs in Vietnam. Last
month, one of the company's affiliates expanded its automobile parts
manufacturing facility in Vietnam, and NIDEC will be outsourcing the
production of coil-wrapped lines to that company The company has
invested 1.5 billion yen in the Vietnam facility expansion. The
finished products will be conveyed to NIDEC's Thai facility which will
be constructed within the year. The Thai facility will be
manufacturing 3 million small sized motors per year. NIDEC is
expanding its production systems throughout the Southeast Asian region
due to the low costs.
                 ___________________________________


Senior ASEAN economic officials begin talks in Vietnam 

Japan Economic Newswire

Hanoi -- Senior economic officials of the Association of the Southeast
Asian Nations (ASEAN) opened a three-day meeting in Ho Chi Minh City
on Thursday discussing ways of accelerating regional economic
development.

ASEAN sources said cooperation in industry, investment, trade and
services will be high in the meeting's agenda.

The meeting is also being attended by senior economic officials from
Cambodia, Laos and Myanmar, which are currently enjoy observer status
within the regional grouping. ASEAN plans to simultaneously admit the
three as full members in the near future.

ASEAN presently comprises Brunei, Indonesia, Malaysia, the
Philippines, Singapore, Thailand and Vietnam.