A program of buying one million tons of rice for stockpiling to shore up the price of the food staple will start tomorrow but the price in the Mekong Delta has suddenly declined. After nearly a week of inching up slightly by VND50-100 per kilogram, the price in the Mekong Delta has dropped by some VND100 in the past two days. Duong Van Men, a rice trader in Dong Thap Province’s Lap Vo District, said... 

CAN THO – Local exporters have lowered the offer price of 5% broken rice further, even though Thailand has announced it will delay the plan for selling off 500,000 tons of rice in stock. The export offer price of the 5% broken rice is currently US$375-385 a ton, down US$5 against last week. Meanwhile, offer prices of 25% broken rice and broken rice are unchanged from the previous week, standing... 

Rice prices in the Mekong Delta fell again after inching up VND50-100 per kilo in the middle of last week even though Vietnam had won bid to export 187,000 tons of rice to the Philippines. In Dong Thap’s Cao Lanh District, intermediary traders last weekend bought the fresh paddy IR 50404 grown in the early summer-autumn crop at VND4,400-4,450 per kilo, down VND100-150 against the level in the middle... 

After the Vietnam Food Association (VFA) loosened management over floor prices for export rice, many local enterprises have seen their business situation improve. VFA earlier fixed minimum prices for various rice varieties such as 5%, 15% or 25% broken rice to prevent unhealthy competition among local exporters. The association removed these floor prices this year, retaining the floor price for only... 

Global rice oversupply will make deeper cuts into local rice farmers’ income this year than in 2012, said Truong Thanh Phong, chairman of the Vietnam Food Association (VFA). The average rice export price in the first months of the year stayed low compared to the same period last year and will unlikely get higher in the coming time given abundant global supply. The country in January-March exported... 

A plan to purchase one million tons of rice for temporary storage will begin after the Lunar New Year holiday, said Truong Thanh Phong, chairman of the Vietnam Food Association (VFA). He said the Prime Minister had given the nod to the plan for buying one million tons of the winder-spring rice for stockpiling. The plan is scheduled to start on February 20. The approved volume is half a million tons... 

Experts have warned farmers in the Mekong Delta should not expand the autumn-winter rice crop, saying losses will outweigh benefits in the long run. They were speaking at a seminar “Benefits and Costs of The Autumn-Winter Crop in The Mekong Delta” held in Can Tho City on Tuesday. Nguyen Huu Thien, an independent expert in ecology and natural systems in the delta, asked a lot of questions over... 

The offering price of rice exports has dropped by US$10 per ton within the last four days due to a shortage of large contracts, according to rice traders. Specifically, the offering price of 5% broken rice was US$430-440 per ton on Monday, which is US$115 lower than rice of the same grade of Thailand. Meanwhile, India’s 5% broken rice is offered at around US$425-435 a ton. The price of Vietnam’s... 

Vietnam has outpaced Thailand to become the world’s biggest rice exporter in terms of volume with nearly 6.5 million tons having been shipped abroad, but the rice export value still trails Thailand’s due to the lower price. As of end-October, Vietnam earned US$2.9 billion from exports of close to 6.5 million tons of rice compared to Thailand’s earnings of US$3.5 billion worth of 5.3 million... 

The Ministry of Agriculture and Rural Development has just sent a dispatch to the central bank, asking for credit support for rice exporters. In Dispatch 3598/BNN-CB, the ministry proposes the central bank call on commercial lenders to extend debt payments for rice exporters by 3-6 months. Besides, rice exporters should be allowed to convert loans in dong into foreign currency loans to enjoy lower...