Viet Nam's rice export prices reach 15-year high
VGP - Viet Nam's 5 percent broken rice has risen to a 15-year peak of US$660-665 per ton compared to that of competitors Thailand and India.
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The price hike was attributed to scarce supply and large orders from the Philippines, a trader from Ho Chi Minh City said.
Viet Nam shipped 7.1 million tons of rice in January-October period, up 35 percent in volume, and the figure may reach a new milestone of 7.8 million by the end of this year.
December 18, Prime Minister Srettha Thavisin said that Indonesia had notified the Thai Government of its intention to buy two million tons of grain.
Thailand's 5 percent broken rice is at US$646 - 650 per ton.
India's rice export prices also increased due to concerns about output. The price of its 5 percent broken parboiled rice is being offered at over US$500/ton.
An exporter in the eastern city of Kolkata said that due to the widening gap between India's rice prices and those of other countries, customers are now willing to accept higher prices.
India's rice output is expected to decline to 8-year low this year, which may prompt New Delhi to extend export restrictions to keep prices low before the 2024 general election./.
