Export prices of five key agricultural items, coffee, pepper, seafood, rice, and rubber, are predicted to rise in the coming time, according to the Information Advisory Council under the Ministry of Trade (MoT).
Of these five items, coffee is likely to witness price increases in both domestic and international markets due to serious supply shortage.
According to the International Coffee Organisation, the 2006-2007 crop will provide only 112 million bags of coffee, a decrease of 7.87 per cent compared to the previous crop. Coffee prices have sharply increased on the world’s market with Robusta price reaching the US$1,525 per ton level.
MoT also forecast big increases in export price of rice. Vietnamese rice exporters are offering 5 per cent broken rice at US$310 per ton, and the 25 per cent broken rice at $290 per ton.
The demand for rice imports is increasing in the world, especially after the Government of Thailand intervened in the rice market. Besides, as the Thai Baht stays firm in value, the price of Thai rice has increased by $5-10 per ton.
In Thailand, the rice price levels were quoted at $317 per ton for 5 per cent broken rice on March 15, and $295 per ton for 25 per cent broken rice.
In Vietnam, as the Red River Delta provinces are between crops, food prices are increasing in some localities by VND100-200 per kilo. Rice is now selling at VND3,400-3,600 per kilo.
Tra and basa purchasing prices are forecast to stay firm or see slight decreases, while shrimp prices are expected to soar as global demand is still very high.
MoT also said the price of pepper and rubber will see slight increases in the time to come. (Vietnam Economic Times)
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