Rice Export Price Adjusted

The Vietnam Food Association (VFA) on December 24 announced a price adjustment for 35 percent broken rice for export.

 

Under the association’s adjustment, the minimum price of 35 percent broken rice was FOB USD370 per tonne, in 50kg bags. The new price will be applied from December 27, 2012.

 

In addition, VFA asked rice traders to strictly follow the announced floor export price.

 

Earlier, on October 10, 2012, VFA adjusted the floor prices for rice export. Accordingly, five percent broken rice was regulated to be sold over USD460 per tonne, while USD455 per tonne was applied for 10 percent broken rice, and USD445 and USD435 per tonne for 15 percent and 25 percent broken rice, respectively. All price levels were FOB price.

 

VFA said that these adjustments aimed to curb rice traders’ cutting export prices by themselves, affecting the country’s rice operation.

 

 CPV