Restrictions On Rice Export harming Vietnam Rice Supply

A key rice crop harvest in southern Vietnam is at its peak, but restrictions on export prices aimed at ensuring supply to Indonesia and the Philippines have stopped deals with other buyers.

The Vietnam Food Association, an industry body, has set the export price for 5 percent broken rice at $305 PMT FOB, at Saigon Port, for shipment in April while deals with May or June loading must be priced at $310 PMT.

The price for 10-percent broken rice would be $5 lower. All export contracts need the association's approval before loading can start.

The association has asked exporters to stop selling the 15-percent broken and the 25-percent broken grades, saying the grain must be reserved for shipments to Indonesia and the Philippines.