Domestic rice prices will continue to increase in the coming time. This is because the purchase of rice for temporary storage made by enterprises as well as their need for rice in service of export demand is strengthening. In addition, insignificant rice inventories among farmers are also a contributor to supporting domestic rice prices.
Regarding exportable rice, in the short term, export prices of Vietnamese rice will increase further due to growing demand from some major importing countries while domestic rice supply is not as abundant as in the previous month.
Main movements and trends:
- Mekong River Delta: The plan to plant about 1.6 million ha of winter-spring rice
- Domestic rice prices and export prices increase
- Contracts to sell 6 million tons of rice in 2009 have been signed
- Export prices of Thai rice continue to go down
- India abolishes import duties for some rice varieties
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