Price of Vietnamese rice for export suddenly bounces back
VOV.VN - The export price of Vietnamese rice has seen a sudden increase after a decline, while the selling price of Thai rice continued to fall, according to the Vietnam Food Association (VFA).
Specifically, the price of 5% broken rice on August 17 rose by US$5 per tonne compared to the previous day to US$628 to US$632 per tonne, while the price of 25% broken rice also jumped from US$603 per tonne to between US$608 and US$612 per tonne.
This comes after Vietnamese 5% broken rice had been offered at between US$623 and US$627 per tonne on August 16, representing a decrease of US$15 per tonne compared to August 10, while 25% broken rice was traded at US$603 and US$607 per tonne.
With the new price set on August 17, Vietnamese 5% broken rice and 25% broken rice stand at US$15 per tonne and US$47 per tonne higher than Thailand’s.
Nguyen Van Thanh, chairman of the Board of Directors and general director of Phuoc Thanh IV Production and Trading Co., Ltd., described Vietnam’s move to reduce rice export prices on August 16 as just "psychological" before the news that India may soon reopen to sell rice.
According to the VFA, by the end of July Vietnam shipped 4.89 million tonnes of rice abroad for nearly US$2.62 billion, up 20.11% in volume and 31.36% in value over the same period from last year.
