Vietnam Rice Export Prices Steady Thursday

 In Vietnam, prices were steady Thursday, supported by strong domestic prices as most exporters are aggressively buying paddy to fulfill outstanding contracts. These contracts mostly involve huge quantities for shipment to Indonesia and the Philippines, Asia's two largest buyers of rice.

Strong demand in the local market from exporters who have pending orders are likely to keep prices at high levels despite the ongoing harvest. Vietnam's 5% broken was offered steady Thursday at $300 PMT, FOB, Ho Chi Minh City, while 25% broken was offered at $280-$285 PMT.