Vietnam rice prices jump on RP tender hopes

Posted at 12/02/2009 12:03 PM | Updated as of 12/02/2009 12:03 PM

HANOI - Vietnamese rice export prices jumped up to 10% on the prospect the country's top grain exporter, Vinafood 2, may win about half of the volume sought in a tender this week by the Philippines, traders said on Wednesday.

But they said the rise would not affect supply as Vinafood 2 had stocks available and there was no trading at the moment on domestic markets.

The 5% broken rice jumped up to 10% to between $530 and $550 a ton, free-on-board basis, from $500 before the tender and the 25% broken grain rose 4.3% to $480 a ton, free-on-board, from $460.

The Philippines, the world's biggest rice buyer, said on Wednesday it may award only 500,000 to 520,000 tons of rice, 300,000 tons of which could go to Vinafood 2 and the rest taken up by Thai suppliers.

 


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