Rice price up after Vietnam wins export contracts

Rice price increased by VND300-400 a kilogram in the Mekong Delta on October 7 after Vietnam won a bid to export 450,000 tons to the Philippines, according to the Ministry of Agriculture and Rural Development.

Rice harvest in the Mekong Delta (Photo: SGGP)

Fresh IR 50404 variety now fetches VND4,100 a kilogram and dry Jasmine is paid VND5,700 a kilogram.

Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said that besides the bid to the Philippines, Vietnamese businesses have won contracts to export one million tons of rice to other traditional markets in the world.

Mr. Tuan forecast that the rice price would continue increasing from now until the first quarter next year.

By Van Phuc – Translated by Hai Mien

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