Vietnam Rice Export Prices Stable Friday

In Vietnam, prices were unchanged at high levels on a strong domestic market. Despite the arrival of fresh supply in the market, with farmers having just completed harvesting a major crop, local prices have remained at high levels. The bulk of fresh rice supply has already been committed for export.

Vietnam's 5% broken was offered steady Friday at $300 PMT FOB, Ho Chi Minh City; 10% broken was offered flat at $295 PMT, 25% broken was offered unchanged at $285 PMT. In other news, Thailand's rice exports in 2007 may rise to 9 million MT 7.5 million tons last year, an industry executive said Friday. Rising consumption is likely to push global rice demand higher in 2007 to 418 million MT versus 414 million MT last year.