Vietnam Rice Export Prices Fall On Rise In Local Supply

Vietnamese rice export prices fell 7.7% in the week ended Tuesday as farmers hastened the harvest of paddy rice in the Mekong delta region.

In Ho Chi Minh City and the Mekong Delta region, companies were quoting high-quality 5% broken rice at $600 PMT, FOB compared with $650 PMT last week. They offered 15% broken rice at $590 PMT, FOB down 6.5% from last week.

Meanwhile the Vietnamese government hasn't yet announced when the export tax announced July 22 will come into effect, but the traders have criticized it, saying it will hurt farmers' profits.