Rice export prices surge

02-May-2012 Intellasia | Thanh Nien | 11:43 AM Print This Post

Vietnam Food Association (VFA) has said that Vietnam’s rice export price in last week surged thanks to gradually decreasing supply when the harvest is ending and Thailand continues its programme of purchasing rice for storage.

VFA has recommended its members to increase the rice export price after the harvest ends because the prices will continue to further soar after a prolonged holiday.

Currently, Vietnam’s 5 percent broken rice price has surged from $425 per tone to $430-$440 per tone, 25 percent broken rice from $370-380 per tone to $400-410 per tone.

According to VFA, Vietnamese firms have signed contracts to export 4.219 million tonnes of rice, rising nearly 24 percent from the same period last year. Enterprises have bought nearly 1.1 million tonnes for stockpile, equalling to 108 percent of the plan. Provinces in Mekong Delta region nearly end the harvest of 1.7 million hectares of rice in the spring- winter crop, the crop with the highest yield ever.

 


Category: Business

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