Vietnam rice increased by $25/Ton

The Vietnam Food Association(VFA) has raised the floor price of exported rice to $475/ton, up $25/ton, applying for orders delivered from now to the end of September, the online newspaper Tuoitrereported on September 16.

This is the fourth time in 30 days VFA has increased the floor price of exported rice. The total hike in 30 days is $75/ton.

VFA said that Vietnam exported $4.95 million tons of rice as of September 10, earning $2.11 billion turnover. In the first days of September, local rice traders exported more than 185,000 tons of rice, worth USD 68.525 million.

The Ministry of Agriculture and Rural Development said that rice traders had boosted up purchasing prices for some recent months. However, the rice supply declined sharply because famers were out of rice and a large amount for exports was collected earlier.

In the domestic market, the prices of scent rice increased to the highest level in the first eight months of this year of VND6,600 per kilo from September 5 in the Mekong Delta River region. The average prices of rice also rose by between VND2,000-VND2,4000 from July. – Stoxplus.com

Tags: Vietnam rice, Vietnam Rice prices

Posted by VBN on Sep 16 2010. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry