Vietnamese Export Prices Lower By 3.3% As Local Supplies Rise

Vietnamese rice export prices fell 3.3% in the week ended Wednesday as bumper harvests boosted local supplies.

In Ho Chi Minh City and the Mekong Delta region, private traders were quoting high-quality 5% broken rice at $725 PMT, FOB down from $750 last week. They didn't offer 25% broken grade prices as most traders were still waiting for specific guidance from the Ministry of Finance for details on when the government will apply its new tax on rice exports which were announced Tuesday.