Vietnam Rice Price

The Vietnam Food Association revised the Minimum Export Price (MEP) for 5 percent broken rice to $420 per ton (FOB basis). However, the actual offered prices from exporters were lower than the MEP, due to the lack of demand after the Lunar New Year and the fact that the Mekong River Delta's Spring harvest is approaching. Local paddy prices also dropped in the Mekong River Delta last week, due to limited export demand and the on going harvest of the Spring rice crop in the Mekong River Delta.