Loading rice for export at Saigon Port (Illustrative image. Source: VNA)
HCM City (VNA) – Vietnamese rice prices have recentlyincreased in both domestic and foreign markets due to high demand and limited supply.
Notably, Jasmine rice price is now at 565-570 USD per tonne, 65-70USD per tonne higher compared to three weeks earlier.
At the same time, Vietnam’s 5-percent broken rice is sold at410-420 USD per tonne, up 35-45 USD per tonne, while the price of 25-percentbroken rice also rises 25-30USD per tonne to 370-375 USD per tonne. In theworld market, Vietnamese rice price is only lower than Thai rice’s.
In the domestic market, rice prices of all kind alsoincreased over 1,000 VND per kilo averagely.
Nguyen Van Don, Director of Viet Hung Company in the Mekong Delta province ofTienGiang, said the demand for Jasmine rice has surged recently, while the supplyof the rice is low and some farmers are still waiting for higher price beforeselling their rice.
Many businesses attributed the recovery in both markets to theincreased consumption in the world. Recent information on some countries’demand to import Vietnamese rice also heat the domestic market.
Particularly, Bangladesh has signed a memorandum ofunderstanding on rice trade and announced its demand of importing250,000-300,000 tonnes of Vietnam’s 5-percent broken rice in the coming timeand about 500,000 tonnes for the whole year, while the Philippines also revealedits plan to buy 250,000 tonnes of rice in June and July.
According to the Vietnam Food Association, Vietnam suffereda drop in rice export in the first five months of this year. However, the exporthas recovered since May with rise of 27.3 percent in volume and 24 percent invalue in May.-VNA
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Loading rice for export at Saigon Port (Illustrative image. Source: VNA) 
