9:57:25 AM | 31/3/2008
Farmers in Mekong Delta region, the Vietnam’s granary, are very worried about the consecutives falls in paddy prices over the past days after sharp increases, the Vietnam Economic Times reported.
Paddy prices are decreasing by VND150-VND200/kilo, to VND4,500-VND4,550/kilo of export paddy.
Farmers said profuse paddy supplies resulting from a bumper winter-spring crop while a large volume of rice is being stockpiled by local companies are the major reason for the decrease of paddy prices.
Local companies blamed the decrease for their weak purchase, which is contributed by the lack of cash and the Vietnam Food Association’s direction to halt inking new export deals for delivery of March.
Meanwhile, rice export prices keep increasing in the world market due to high demand.
Thailand, the world’s rice biggest exporters, March 21 offered rice at US$562 a ton of 5 per cent of broken rice, FOB, up 13 per cent over a week earlier.
Vietnam, the second of its kind, sold its 5 per cent-broken rice for US$550 a ton, FOB, up 10 per cent or 17 per cent, or US$50-US$75 a ton; and US$520 a ton of 25 per cent of broken rice.
Thais rice prices rose by 71 per cent-73 per cent while Vietnamese rice prices rose by 77 per cent-82 per cent over the same period of last year. (Vietnam Economic Times)
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