Vietnam Hikes Rice Floor Price By Over 4%

According to Vietnam Food Association, Vietnam has raised the floor price for its exportable 5 percent broken rice by 4.2 % to $750 PMT this week.

According to a statement issues by the Vietnam Food Association, the new floor for Vietnam's top grade rice, raised from $720 last week, is on a free-on-board basis and loading would be this month and in August.

The floor price designed to prevent exporters from selling at very low prices was imposed last month as the country lifted its ban and set a target to ship 3.5 million MT for the first nine months.