Importers, including Indonesia and the Philippines, have paid an additional $30 to $80 per ton for fragrant Vietnamese rice, according to Singapore-based traders
SINGAPORE – Vietnamese exporters have renegotiated higher prices for around half a million metric tons of rice, two trade sources said, as global prices climbed to 15-year highs following India’s ban on overseas sales last month.
“Buyers have agreed to pay higher prices for some of [the] cargoes which they bought for August shipment,” said one trader at an international trading company. He added that around 200,000 tons of rice have been shipped this month while 300,000 tons were yet to be loaded at Vietnamese ports. The export ban by India, which accounts for 40% of world rice supplies, has taken out 10 million tons of supplies from the international market.
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