Vietnamese rice prices have increased by 10 percent in the world market after the country won one of three big contract to export rice to the Philippines.
The price of 5 percent broken rice has risen by US$530-550 per tonne from last week’s price of US$500 per tonne. Meanwhile, the price of 25 percent broken rice has been fixed at US$480 per tonne (up 4 percent) for the first volume of 300,000 tonnes ordered by the Philippines.
In the first stage, the Philippines plans to buy 500,000-520,000 tonnes of rice, including 300,000 tonnes from Vietnam’s Vinafood 2 Company and the rest from Thailand.
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