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Export rice price up 13% in one week
Export rice prices are on the rise.
The price of 25-per-cent broken rice has climbed nearly 13 per cent since the middle of last week, to US$350 a tonne, according to the Ministry of Agriculture and Rural Development’s Agriculture and Rural Development Policy and Strategy Research Institute.
The institute attributed the rise to larger contracts from Nigeria and the Philippines, with the Philippines recently contracting to buy 500,000 tonnes of this kind of rice from the Southern Food Corporation.
Nigeria has already bought 250,000 tonnes from Viet Nam, citing prices $80-90 lower than in Thailand.
The Cuu Long (Mekong) Delta Province of Bac Lieu also recently exported 25,000 tonnes of high-quality rice to Europe at a price of $887 a tonne.
The rice, under the trademark Mot bui do Hong Dan established in June,was planted on 20,000ha in the province, yielding 6 tonnes per ha. The rice is part of a Government programme to plant a million ha with high-quality rice in southern Viet Nam by 2010.
About 700,000ha nationwide is currently planted with high-quality rice, supplying about 3.5 million tonnes per year.
VNS
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