Export Prices of Vietnamese Rice Up US$20 Per Ton On Average

Export prices of Vietnamese rice have reportedly increased by US$20 per ton on average since early June thanks to higher demand from the two major importers of the Philippines and Malaysia.

 

Domestic exporters are currently offering to sell Vietnamese 5 per cent-broken rice at around US$405-US$410 per ton (FOB).

 

The Filipino government has decided to start importing an additional 700,000 tons of Vietnamese rice beginning early next month, increasing the total rice volume it plans to import from the Southeast Asian country to 2.2 million tons this year.

 

In the remaining months of 2009, Malaysia has agreed to buy another 150,000 tons of rice from Vietnam.

 

In the first ten days of June, Vietnamese enterprises signed contracts to export 285,000 tons of rice, raising the total contracted volume to 4.76 million tons so far this year. Of the total, 3.2 million tons worth US$1.3 billion were already shipped abroad. (Vietnam & World Economy)