Vietnam Rice Prices Little Changed On Increased Local Supply

Apr 25,2007 00:00 by dailynews

Vietnamese rice export prices were little changed in the week to Tuesday, as local supply continues to increase despite companies increasing their export delivery. But the trader said prices could rise in the next few weeks, because global demand is expected to increase significantly soon.

Philippine authorities have just agreed to buy 103,750 MT Vietnamese rice for delivery in the second quarter, raising its total purchases from Vietnam to 1.32 million MTthis year. In Ho Chi Minh City and the Mekong Delta region, traders quoted indicative prices for high-quality 5% broken rice at $303 PMT, down from $305 PMT
last week, and 25% broken grade at $285 PMT, unchanged from last week.