Vietnam Rice Export Prices Up On Strong Demand

Rice export prices of Vietnamese rice were up 5% in the week ended Tuesday as local traders begin to buy rice to prepare for export contracts expected to come their way in July.

Vietnam is estimated to have exported 450,000 MT of rice valued at $350 million in May, down 4% in terms of volume although the value of the exports has more than doubled, government figures showed.

In Ho Chi Minh City and the Mekong Delta region, private traders were quoting high-quality 5% broken rice at $1,050 PMT, FOB up from $1,000 PMT last week.