The price of paddy rice in the Mekong Delta increased by VND200/kg on July 3 to reach VND5,750-5,850/kg.
According to the Vietnam Food Association (VFA), the price is rising because rice exporters have to increase the volume of rice they purchase to meet new contracts signed with Bangladesh and Indonesia.
Currently, 25-percent broken rice is traded at VND7,800/kg, while the price of five-percent broken rice has reached VND7,950/kg.
In July, local exporters will ship 100,000 tonnes of rice to Bangladesh at US$525/tonne, and another 400,000 tonnes to Indonesia.
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