HANOI, Feb 28 (NNN-VNA) – Analysts forecast that Vietnam’s rice prices will continue upward trend this year, on limited supply, it was reported today.
The report quoted the analysts as saying that, recent falls in Vietnam’s rice prices are only short-term.
Vietnam’s rice prices are dropping on the psychology of waiting for clearer market trends, from rice import plans of importing countries, local media reported.
According to the Vietnam Food Association, export rice prices of Vietnam are moving sideways, after sharp decreases.
The price of 25 percent broken rice dropped by 20 U.S. dollars per tonne, in the past week, to 584 dollars per tonne, slightly lower than Thailand’s.
The country’s 100 percent broken rice is sold at 508 dollars per tonne, 25 dollars per tonne higher than Thailand’s.
According to the Ministry of Agriculture and Rural Development, Vietnam targets to export at least eight million tonnes of rice this year.
As of Feb 15, Vietnam earned 466.6 million dollars, from exporting 663,209 tonnes of rice.– NNN-VNA
