Vietnamese rice export prices were mostly unchanged in the week to Tuesday as local companies won't be allowed to sign new export contracts in order to maintain domestic food security, said traders.
"The government isn't allowing companies to sign new export contracts because they have signed contracts to sell 4.5 million tons of rice so far this year, meeting the export target set by the prime minister in January," said a state trader with the Vietnam Food Association in Ho Chi Minh City.
The trader noted that as exporters still have to deliver nearly 1.8 million tons of rice by the end of the year, the price of exportable rice is expected to remain high in the coming weeks.
The trader said the authorities will impose the export limit to maintain food security for the country, after farmers reported that their paddy fields across the country have been attacked by harmful pests.
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