From the beginning of March, the price of Vietnam's export rice has been at a higher level than Thailand’s rice of the same variety and still much higher than that of Pakistan and India.
According to the Vietnam Food Association, Oryza website showed that on March 8, the price of Vietnam’s 5% broken rice was traded at US$ 508/ton, while it was at US$ 507/ton for Thailand, US$ 438/ton for Pakistan and US$ 408/ton for India.
Thus, the price of Vietnam's 5% broken rice for export is higher than that of Thailand for the same type. This started from March 2 when Vietnam's 5% broken rice increased to US$ 518/ton from US$ 513/ton the day before, while Thailand's 5% broken rice decreased from US$ 514/ton to US$ 513/ton.
Since then, although the 5% broken rice price of both Vietnam and Thailand tends to decrease, the 5% broken rice price of Vietnam has always been higher than that of Thailand, although the gap has narrowed down to a difference of only US$ 1/ton on March 8th.
However, according to a trader in the rice industry, the above rice price is just a nominal price because there are not many new contracts signed recently because importers are still waiting for bigger supplies from Vietnam when winter-spring rice is harvested in the Mekong Delta.
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