| DJ Vietnam Rice Prices Up On Higher Transportation Costs |
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HANOI (Dow Jones)--Vietnamese rice export prices were higher in the week to Tuesday after the government raised gasoline prices by 15% a week ago, increasing transportation costs, traders said.
They said local exporters are facing higher operational costs following the government's decision to raise the prices of gasoline and other fuels on Nov. 22.
We aren't allowed to sign commercial export contracts, and all the companies are delivering for the government-approved ontracts," said one trader with Vinafood 2 in Long An province.
The trader noted the government's ban on rice exports is keeping the price of exportable rice from rising, as rice stocks are very low now in the Mekong delta region. In Ho Chi Minh City and the Mekong Delta region, traders quoted indicative prices Tuesday for high-quality, 5% broken rice at $335/ton, up from $320/ton last week, while the 25% broken grade was quoted at $320/ton, up from $310/ton last week. Traders based in the Mekong delta region said the price of exportable rice is low compared with the domestic prices, which are etween $400/ton and $430/ton. |
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