Vietnam's Prices Steady Wed Amidst Strong Demand

In Vietnam, prices were steady Wednesday due to strong demand even as farmers are harvesting the main crop.

"Prices should remain at this level due to strong demand for Vietnamese rice," one exporter said. Many exporters are busy gathering supply for shipment to Indonesia and the Philippines, two major buyers of the grain in Asia.

Some traders from Africa and Iraq were also making inquiries in the market but haven't signed any deal yet, apparently waiting for prices to go down.

Vietnam's 5% broken was offered unchanged Wednesday at $305 PMT, FOB, Ho Chi Minh City, the 25% broken at $290 PMT.