Rice price gradually increases in Mekong Delta provinces

Information that Vietnam won a contract to sell 1 million tons of rice to Indonesia from October to March 2016 has positively affected rice market in the Mekong Delta provinces which had been muted during the past months.
 
At present, farmers in the Mekong Delta provinces have finished harvest of summer-autumn rice crop, thus, the amount of rice held by farmers is not much.
 
In An Giang Province, low-quality rice paddy IR 50404 was trading at above VND6,300 per kilogram, up VND200 per kilogram compared to that in the end of September.
 
The price of 5-percent broken rice was at VND7,150-7,200 per kilogram, and that of 15-percent broken rice was at VND7,100 per kilogram.
 
In Dong Thap and Kien Giang provinces, the prices of paddy and milled rice also climbed. The price of low-quality rice IR 50404 was VND6,250-6,400 per kilogram in Kien Giang Province, up VND200 per kilogram compared to that on September 30. Prices of 25 percent broken, 15 percent broken, and 5 percent broken rice all rose by VND200 per kilogram.
 
In Dong Thap Province’s Sa Dec City, the price of low-quality rice paddy IR 50404 surged to VND6,200-6,300 per kilogram as warehouses increased purchasing rice.
 
According to rice exporters, the fact that Vietnam won the 1-million-ton-of-rice contract of Indonesia will help boost domestic consumption and raise rice prices, creating favorable conditions for consumption of the upcoming winter-spring rice crop.
 
 

By Ham Luong, Phan Thi – Translated by Thuy Doan

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