Vietnam's Rice Prices Lower Wednesday

Apr 11,2007 00:00 by dailynews

In Vietnam, prices were offered lower Wednesday as harvesting of a major crop
was pressuring the market.

Also, not many buyers are making inquiries in the market as they are keeping
to the sidelines due to high prices, one exporter said.

However, prices aren't likely to decline further as most exporters are still
busy gathering supply to fulfill outstanding contracts, the exporter said.

"We think prices will stay at this level in the next few weeks as we have
outstanding contracts involving huge quantities for shipment within the month,"
she said.

Vietnam's 5% broken was offered Wednesday at $300/ton, FOB, Ho Chi Minh City,
while 25% broken was offered at $285/ton, down $5/ton from prices offered
Friday.