Rice prices have soared to an all time high of VND6,400-6,700 per kilogram, causing farmers to hold on to their rice in expectation of higher rates while traders are stockpiling the grain in large quantities.
|Farmers harvesting their summer-autumn rice crop (Photo: SGGP)|
Farmers in the Mekong Delta are nearing the end of their summer-autumn rice harvest season and rice prices have accelerated by approximately VND1, 500 per kilogram since the start of the harvest.
Nguyen Van Sau from Thoai Son District in An Giang Province said that summer-autumn rice prices are now the highest ever in the last few decades.
Price of husked rice too has risen. Processing plants paid VND9, 100-9,200 per kilogram at the Cai Rang wholesale market in Can Tho City yesterday.
Nguyen Thien Khanh, owner of a rice processing company says the price of summer-autumn rice is VND1, 000 higher than in the previous winter-spring rice crop season.