Vietnam rice price shoots up

0 HANOI (Commodity Online) : Rice price in Vietnam, world’s largest rice exporter climbed sharply after global demand picked up, according to Viet Nam Food Association (VFA).

Purchasing price of material rice last week jumped by VND250-300 per kilo to VND8,600-8,700 per kilo for five-per cent-broken rice, and to VND8,45-8,500 per kilo for 25-per cent-broken rice, against the previous week, VFA said.

Price of finished rice also climbed by the same rate, VND300 per kilo to VND10,150 per kilo for five-per cent-broken rice, VND9,850-VND9,950 per kilo for 15-per cent-broken rice, and VND9,350-VND9,450 per kilo for 25-per cent broken rice.

The association said the increase of the domestic Rice prices was due to a promotion of purchasing rice for previously signed export contracts of local rice exporters.

Meanwhile, there was a rumour among local rice traders that the increase in purchasing prices of rice was due to a speculation of rice to surge in export price with Thai rice in the near future.


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