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UPDATE 1-Vietnam Jan-May trade gap soars to $14.4 bln
Reuters: [2008-05-26 12:30:00]
(Changes attribution, adds details on oil)
HANOI, May 26 (Reuters) - Vietnam estimated its trade deficit in the first five months of the year would be $14.4 billion, more than three times higher than in the same period last year after a jump in imports, the government said on Monday.
January-to-May imports would rise 67 percent to $37.8 billion while exports would only rise 27.2 percent from the first five months of 2007 to $23.4 billion, the General Statistics Office said in its monthly report.
Global oil prices have surged this year, inflating Vietnam's energy import bill. The government report said the country would spend $4.9 billion for oil products in the first five months, a surge of 68.7 percent from the same period last year.
Vietnam had a trade deficit of $4.23 billion in the first five months of 2007.
Rice exports are estimated to reach 2.1 million tonnes after the first five months, up slightly from 1.87 million tonnes shipped in the same period last year, while rice earnings would nearly double to $1.17 billion thanks to higher global prices.
The five-month import value of equipment and machines would jump 42.5 percent to $5.7 billion, the government said.
January-May's crude oil exports would rise 45 percent from the same period last year to $4.52 billion, the government said.
It estimated exports this month would reach $5.15 billion while imports would be $8 billion, leaving the monthly deficit at $2.85 billion, compared with an actual deficit of $3.22 billion in April.
Last month, Planning and Investment Minister Vo Hong Phuc told a National Assembly committee that exports were projected to rise 37 percent to $83 billion this year, above the government's initial forecast of between 20 and 25 percent.
Phuc said the annual trade deficit would widen to $30 billion, compared with an Industry and Trade Ministry forecast of $20 billion early this year. (Reporting by Ho Binh Minh, Editing by Jacqueline Wong)
((ho.minh@reuters.com; +844 825 9623; Reuters Messaging: ho.minh.reuters.com@reuters.net)) Keywords: VIETNAM ECONOMY/TRADE
EU seeks U.S. biofuel details after dumping claim
Reuters: [2008-05-26 11:23:00]
BRUSSELS, May 26 (Reuters) - The European Commission has asked the United States to provide details of U.S. subsidies to biodiesel producers as it weighs up a request by European producers to hit U.S. imports with punitive duties.
"The Commission is in contact with the United States to clarify certain details regarding U.S. production," an European Union diplomat said on Monday.
"This is an initial prerequisite to any move the Commission may take in this area," the diplomat said, speaking on condition of anonymity.
European biodiesel producers in April asked the Commission to impose duties on biodiesel imports from the United States on the grounds they broke international trade rules.
The European Biodiesel Board said U.S. subsidies for "B99" biodiesel -- which is blended with mineral diesel -- breached World Trade Organisation rules and threatened the growing international trade in biodiesel.
The National Biodiesel Board, which represents U.S. producers, accused EU producers of hypocrisy, saying they benefit from discriminatory fuel specifications in the bloc.
(Reporting by William Schomberg, Editing by Peter Blackburn) ((william.schomberg@reuters.com; +32 2 287 6832; Reuters Messaging: william.schomberg.reuters.com@reuters.net))
Keywords: EU USA/BIOFUELS
TAKE A LOOK-Rice prices surge as exporters curb supplies
Reuters: [2008-05-26 08:51:00]
Rice prices are surging as governments and importers rush to
stock up the grain on growing fears the food staple will be in
short supply, a worrying red flag for Asian policymakers already
on alert over inflation and food security.
To see Reuters stories on issues relating to supply, demand
and exports of rice, click on:
..............................................................
TAKE A LOOK-Food price inflation [ID:nL03499222]
LATEST STORIES
> India may sell 1.3 mln tonnes rice to Africa-paper [nDEL250863]
> Cambodia becomes first rice exporter to lift curbs [nBKK306617]
> Mexico says to lift corn, rice import tariffs [ID:nN25309872]
> Thailand to supply Manila rice if shortage looms [ID:nBKK185586]
> U.S., Japan says steps are needed to calm rice market [ID:nN23299126]
> Thailand says 10 nations asking for rice supplies [ID:nBKK272607]
> EU rice output to stay stable but shift to the East [ID:nL22779313]
> Manila says rice self-sufficiency is a tough goal [ID:nMAN211356]
> Japanese eat more rice as other food prices climb [ID:nT180765]
> Cyclone damage to Myanmar rice may flare prices [ID:nKLR155708]
> Food crisis requires new green revolution-Congress [ID:nN14503681]
MARKETS/TRADE
> Benchmark Thai rice rises to $1,050 a tonne [ID:nBKK197533]
> South Korea to slash imported rice prices [ID:nSEO365440]
> Manila seeks 200,000 tonnes of rice from Japan [ID:nT348559]
> Japan to give 20,000T rice as aid to African nations [ID:nT154792]
> Iraq tenders to buy 30,000 tonnes of rice - trade [ID:nL21140694]
> Vietnam could lift rice export ban in July-paper [ID:nHAN304545]
> Vietnam Rice-Fresh grain supply to peak in July [ID:nHAN151756]
> India's rice export curbs may hit winter harvest [ID:nDEL176832]
> Manila to hold tender for 141,440 T rice next week [ID:nMAN221401]
> B'desh sees summer rice crop 2 mln tonnes over target [ID:nDHA197312]
> Myanmar needs $243 mln for rice seed, paddy - FAO [ID:nSP113290]
> Saudi, UAE want more Thai rice imports - trade [ID:nL14918374]
> Thailand to buy rice from farmers at $432/tonne [ID:nBKK24924]
> Haitian protesters trade food riots for jobs [ID:nN13436057]
> Soaring rice prices a global danger, expert warns [ID:nN13312673]
> India resists pleas to ease rice export curbs [ID:nDEL64887]
> UAE rice importers call for 25 pct subsidy - trade [ID:nL10717555]
> China April rice export drops as curbs bite [ID:nPEK208272]
> Mexico to allow 250,000 tonnes of rice tariff free [ID:nN08406624]
> INTERVIEW-Iran may start buying Thai rice in June [ID:nBKK49516]
> Nigeria suspends rice imports for 6 months [ID:nL07351338]
> Bangladesh bans non-aromatic rice exports [ID:nDHA315394]
> Rice prices peaked, could fall to $600-Ebro Puleva [ID:nL05293904]
> Bangladesh to import more rice to aid poor people [ID:nDHA87836]
> Pakistan reins in rice exports [ID:nSIN139873]
CROPS/SUPPLY
> Manila says Thailand willing to supply rice [ID:nMAN219103]
> Malaysia '08 rice imports to rise 30 pct [ID:nKLR133170]
> Vietnam to divert more rice for domestic use [ID:nHAN146129]
> Monsoon to hit India early, boost rice output [ID:nBOM148764]
> Cyclone hits 20 pct of Myanmar rice fields - FAO [ID:nBKK202161]
> Rice crop to hit record, but prices still rising [ID:nL13544437]
> Indonesia eyes more rice farms amid global supply [ID:nL13584115]
> Philippines' farm output up in Q1, upbeat on rice [ID:nSP280606]
> Australia Grain-Wheat, rice plantings spurred by prices [ID:nSYD86337]
> UAE to face shortage in rice supplies till August [ID:nL1196675]
> Thai 2008 rice exports seen above 9 million tonnes [ID:nBKK272765]
> India weighs rice diplomacy, wheat stockpile [ID:nBOM4471]
> Manila says rice self-sufficiency at least 3 yrs away [ID:nMAN123623]
> World rice output seen up 1.8 pct y/y in 2008 [ID:nL01775930]
> Asia fears lost decade, unrest from food price shock [ID:L05693727]
USDA DATA
> Rice supply/demand by country -- USDA [ID:nWRICE]
> U.S. weekly rice exports by country - USDA [ID:nUSDAEXP7]
> Weekly world market rice prices - USDA [ID:nN07563910]
FACTBOXES
> Why have rice prices surged to record highs [ID:nSP90048]
> Food price anger sparks protests [ID:nL21631542]
> Inflation-weary India slaps steel, rice export taxes [ID:nDEL291033]
> Five facts on rice, staple of half world [ID:nSP154287]
> The world's top ten rice importers and exporters [ID:nSP92778]
> Top 5 U.S. rice export markets in past 3 years [ID:nT200661]
ANALYSIS/FEATURES/BACKGROUND/OUTLOOK
> High rice price empties Dhaka begging bowls [ID:nDHA185551]
> People in western Myanmar struggle with shortages [ID:nB29877]
> Rice losing place on Asian plate as diets improve [ID:nSP191812]
> Bangladeshis told 'eat potatoes' as rice prices soar [ID:nDHA55981]
> Food crisis may turn tide in U.S. aid debate [ID:nN07214941]
> Rice, wheat prices diverge as fundamentals clash [ID:nKLR229596]
> Golf courses, developers nibble at Asia's rice paddies [ID:nJAK257743]
> Japan pushes rice as solution to food fears [ID:nT326799]
> No quick fix to soothe Asian rice shortage fears [ID:nSP139087]
> Rice price pinches budgets, diets in West Africa [ID:nL24641174]
> Price surge draws Thai rice barons into spotlight [ID:nBKK242571]
> CBOT rice price a benchmark for US, but not world [ID:nN23451659]
> Farmers fleeing ancient centre of Philippine rice [ID:nMAN222979]
> As rice prices soar, Thai farmers roll up sleeves [ID:nBKK52500]
> Rice shortages blur global trade trends, aid U.S. [ID:nN17367490]
> India rice export curbs to boost world prices [ID:nL01762562]
> Rice a political hot potato in the Philippines [ID:nMAN167546]
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Page editor: Clarence Fernandez (+65 6870 3923, email:
clarence.fernandez@thomsonreuters.com)
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Keywords: RICE TAKEALOOK/
FACTBOX-Aid offers for Myanmar
Reuters: [2008-05-26 08:01:00]
(For related story see [ID:nBKK279527])
May 26 (Reuters) - Myanmar was promised nearly $50 million in cyclone aid at a conference in Yangon on Sunday, but some Western donor nations said their cash was contingent on the junta keeping its word on letting in foreign aid workers and assessment teams.
Up to 2.4 million people face hunger and disease in Myanmar, three weeks after Cyclone Nargis struck the southern Irrawaddy delta region on May 2-3 leaving 134,000 people dead or missing.
The junta said last Wednesday that it needed $11 billion for resettlement, reconstruction and rehabilitation. On Friday it agreed to admit foreign aid workers to the delta region, after a top-level meeting with U.N. chief Ban Ki-moon.
The following are some of the aid offers to date:
NGO/IGO CONTRIBUTIONS
RED CROSS: 200,000 Swiss francs ($189,000). Launching appeal for 53 million Swiss francs ($50 million) to help 500,000 people.
-- American Red Cross: $100,000 in funds and supplies.
-- Myanmar Red Cross: Distributing insecticide-treated bed nets and water purification tablets. Government to give 5 billion kyats ($4.5 million) for relief and resettlement.
UNITED NATIONS: About 50 nations pledge $50 million at U.N. donor conference. Most will go to the U.N.'s $201 million three-month appeal. The U.N. World Food Programme and partners have dispatched more than 700 tonnes of rice and food aid to at least 71,800 people.
WORLD VISION, AUSTRALIA: A$3 million ($2.8 million). 25 medical/other specialists to boost 600 staff already in Myanmar.
STATE CONTRIBUTIONS
AUSTRALIA: A$3 million ($2.8 million), A$1 million of that to aid agencies for shelter, water purification and food.
BANGLADESH: Two planeloads of humanitarian materials and food, sending five-member military team.
CANADA: C$2 million ($1.98 million) to organisations such as the United Nations, Red Cross and the World Food Programme.
CHINA: 30 million yuan ($4.3 million), on top of $500,000 cash and $500,000 worth of tents, blankets and supplies.
EUROPEAN COMMISSION: 2 million euros ($3 million) of fast-track humanitarian aid.
FRANCE: 200,000 euros (about $320,000) in aid. Plane carrying 40 tonnes of food/other aid arrived in Yangon on Thursday; Navy ship with 1,000 tonnes of drugs, food, tents ordered to head for Thailand after not being allowed to unload in Myanmar.
GERMANY: One million euros (around $1.55 mln) to German aid organisations for shelter, drinking water, relief materials.
GREECE: $300,000 cash, plane carrying aid.
INDIA: Two naval ships of food, tents, blankets, clothing and medicines to Yangon. Two transport aircraft to take supplies.
INDONESIA: $1 million; and food, medicine, humanitarian aid.
JAPAN: $10 million aid, on top of 28 million yen ($267,570) worth of tents, power generators and other supplies.
NEW ZEALAND: NZ$1.5 million (about $1.1 million) to aid agencies/United Nations.
SINGAPORE: $200,000 in humanitarian assistance; offering rescue and medical teams.
SOUTH KOREA: $2 million in addition to an initial $100,000 in aid and material, such as tents and medicine.
SPAIN: 500,000 euros (about $775,000) to World Food Programme.
TAIWAN: $200,000 direct aid; sent 8-member rescue team.
THAILAND: Several flights of food, blankets and medicine.
TURKEY: $1 million aid. Turkish Red Crescent sending team.
UNITED KINGDOM: 12 million pounds ($23.34 million), on top of up to 5 million pounds given for initial emergency relief. Sending emergency field team.
UNITED STATES: $20.5 million to date. U.S. military is making about five flights a day to Yangon with supplies.
Source: Reuters (Compiled by Gillian Murdoch, Beijing Editorial Reference Unit and Bangkok newsroom; Editing by Ed Davies) ((For more stories on Myanmar cyclone click on [nSP152717 or follow link to Reuters AlertNet http://www.alertnet.org))
((Bangkok newsroom, darren.schuettler@thomsonreuters.com, +66 2 637 5610; Reuters AlertNet email: alertnet@reuters.com; +44 207 542 5791)) Keywords: MYANMAR AID/
UPDATE 1-Haitian president nominates adviser, friend as PM
Reuters: [2008-05-26 07:20:00]
(Adds details, background, quotes)
By Joseph Guyler Delva
PORT-AU-PRINCE, May 26 (Reuters) - Haitian President Rene Preval nominated his longtime friend and adviser Robert Manuel on Sunday to become prime minister of the impoverished Caribbean nation, where the previous government was toppled by food riots in April.
Preval named Manuel in a late-night meeting with the presidents of the Senate and Chamber of Deputies, the lower house in Haiti's parliament. Both chambers must vote on the nomination.
Preval's efforts to establish a stable democracy in Haiti were dealt a heavy blow when violent demonstrations erupted last month over the rapidly escalating cost of living in the poorest country in the Americas.
At least six people were killed in the protests, which spread from the southern city of Les Cayes to the capital, Port-au-Prince, and other towns and cities.
Shortly after the riots, the Senate fired then-Prime Minister Jacques Edouard Alexis. Parliament rejected Preval's first nominee to replace Alexis, Inter-American Development Bank official Ericq Pierre, on May 12.
Manuel, 55, is an architect and a recognized security and law enforcement authority who served as secretary of state for public safety during a portion of Preval's first term as president from 1996 to 2001. He managed Preval's successful election campaign in 2006.
"I believe we need to work together to change this country and I want to make my contribution," Manuel told Reuters following his nomination.
Pierre's candidacy was rejected in a 51-35 vote in the lower house a few days after the Senate approved his nomination. Deputies who voted against him said he had failed to provide proof required under the constitution that he is descended from native-born Haitians.
Lawmakers were expected to begin discussions on the new nominee on Monday.
"The Coalition of Parliamentarians for Progress has set up a meeting tomorrow (Monday) to determine what its position will be," said Levaillant Louis-Jeune, a spokesman for the group of lawmakers that joined to defeat Pierre's nomination.
Haiti has seen little but political upheaval and brutal dictatorship since it threw off French rule in a slave revolt more than 200 years ago.
It stands among a number of poor countries rattled in recent months by violence over escalating food prices blamed on growing demand in Asia, diversion of crops for biofuel, record oil prices and market speculation.
Poor Haitians say the cost of staples such as rice, beans and flour has doubled in the past few months.
Preval, who took office in May 2006, is the only elected Haitian leader to serve a full term and successfully hand over power to a democratically elected successor.
But he has been the subject of increasing criticism for the perceived failure of his government to increase food production and lower living costs.
In his first term, it took Preval 21 months to put a new government in place after then-Prime Minister Rosny Smarth resigned in June 1997.
(Editing by Jim Loney and Todd Eastham)
((jim.loney@thomsonreuters.com; +1 305 810 2688; Reuters Messaging: jim.loney.reuters.com@reuters.net))
Keywords: HAITI GOVERNMENT/
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