Vietnamese Exporters told to desist from slashing rice prices

The Vietnam Food Association asked local businesses to stop lowering rice prices in international markets saying it is hurting the country's exports.
Low prices offered by the association's members were causing difficulties for others in dealing with importers and leading to serious effects on inter-governmental relations, said the association's Deputy Chairman Nguyen Tho Tri.
Tri told the press on Monday the association has set a pricing framework that its members were to follow but many have broken it as they jostled to push out others and win import contracts.
The ceiling prices that exporters should not sell under were US$400-430 per ton but many local businesses including association members were offering lower prices, Tri said.
He said this practice would not benefit the country's exports, given that world demand for food was not falling.