Rice export price touches three year high

Rice export price has been increasing for the last couples of weeks, reaching the highest level since the end of 2014 as many regional countries have resumed importing Vietnamese rice.

Rice export price hits three year high

According to the Ministry of Industry and Trade, the FOB (free on board) price of five percent broken product was US$390 a ton in early June, up $360-380 a ton over the end of May.

The price increase has been thanks to surging demand in the world market especially from Asian nations.

Experts forecast that the world rice price will further move up in the next three months. In Vietnam, many businesses have stepped up stockpiling, hoping the price to hit $400 a ton.

The export price hike has started pushing up rice prices in the Mekong Delta after a period of reduction. A kilogram of summer autumn rice is priced VND100-200 higher than a week ago.