Both export and domestic prices of Vietnamese rice have slightly decreased during the past week due to high supplies, local media reported.
The Vietnam Trade Information Center said on its Web site that export prices of Vietnamese rice decreased by 3.3 per cent, from US$750 a ton of 5 per cent broken rice, free on board, a week earlier, to only US$725 a ton.
Rice traders in Mekong Delta predict that the prices are unlikely to further as Vietnamese government raised petrol prices by 31 per cent.
&ldquoIt is also very difficult to fore rice export prices in August and September,&rdquo a trader said.
At local market, prices of summer-autumn paddy ped to only VND4,500-VND4,800 a kilo. Prices of rice material for 5 per cent broken rice production are around VND6,300 a kilo.
Vietnamese companies are now selling 5 per cent broken rice for VND7,800 a kilo of summer-autumn rice, free alongside ship, while winter-spring rice prices are VND8,800 a kilo. Prices of 15 per cent broken rice are VND7,500-VND7,700 a kilo, and prices of 25 per cent broken rice are VND7,400-VND7,500 a kilo.
Vietnam is estimated to have exported 2.794 million tons of rice in the first seven months of 2008, raking in US$1.811 billion, down 6.8 per cent on year in volume but up 87.6 per cent in value, according to the General Statistics Office (GSO). (Vinanet, GSO July Edition)
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