Vietnam rice prices rise $75/Ton

The Vietnam Food Association(VFA) has raised the floor price of exported rice to $540/ton, up $75/ton, the online newspaper Tuoitre reported on December 3.

The prices of 25% broken rice also rose to $485 per ton.

The higher prices of exported rice resulted from the world surging demand and higher domestic prices, VFA said.

In the domestic market, the rice prices were sold at between VND5,950-VND6,100 per kilo in the Mekong Delta River region.

The world rice output is estimated to fall 6.5% to 697.9 million tons in 2010 due to lower production in Asian countries, biggest exporters in the world due to bad climate, Food and Agriculture Organization (FAO) said.

Vietnam rice export shot up to a record high of 6.11 million tons worth 2.59 billion USD in the first 11 months this year. Vietnamese firms have signed contracts to export some 7 million tons of rice in 2010, VFA said. – Stoxplus.com

Tags: Vietnam rice, Vietnam Rice prices

Posted by VBN on Dec 6 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