Vietnam rice export estimated to reach $300Mln as of Feb 15

Vietnam is estimated to export $300 million worth of 600,000 tons of rice as of the February 15

Vietnam is estimated to export $300 million worth of 600,000 tons of rice as of the February 15, the online newspaper Nguoilaodong reported on February 23, citing the Vietnam Food Association(VFA).

VFA has planned to purchase 1 million tons of rice for stock from March 1 in order to keep rice prices at market price level and at VND5,000/kg at least.

Yesterday, VFA raised the floor prices of exported rice with an average increase of $20/ton.

The floor prices of exported rice with 5% and 25% broken rice will rise to $520/ton and $490/ton respectively, applying for contracts delivered in February and March.

In the market, rice with 5% and 25% broken rice is sold at between VND7,500-VND7,600/kg and VND7,350-VND7,450/kg, respectively after VFA instructed its member to purchase 1 million tons of rice for stock and the local traders boosted purchasing for contracts signed with Indonesia and Bangladesh this month. – Stoxplus.com

Tags: Vietnam rice exports

Posted by VBN on Feb 23 2011. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry