Vietnam Raises Rice Export Prices

Vietnam has raised the reference price for its top rice export grade by 8.3 % in an attempt to help boost domestic prices and sell newly harvested grain.

The Vietnam Food Association raised the reference quotation for the 5 percent broken rice to $650 PMT, FOB from $600 PMT, FOB previously.

The price hike by the association, which oversees Vietnam's rice production and exports, is aimed at supporting a government paddy buying scheme to help Mekong Delta farmers sell all their newly harvested summer-autumn rice.