The average export price of rice stood at 624 USD per tonne, up 13%.
Recently, the Indian government lifted its ban on the export of non-Basmati white rice, ending the suspension that lasted over one year on overseas sales.
Vietnamese rice exporters said that India's decision will exert downward pressure on the prices of rice varieties in the market. However, the price of Vietnamese rice is unlikely to fall below 500 USD per tonne due to limited domestic supply.
Recently, Vietnam won a bid to supply nearly 60,000 tonnes of rice to Indonesia in its September rice tender with a winning price of 548 USD per tonne, down 32 USD from the previous price. Despite the price decrease in the bid, demand from key markets such as the Philippines and Malaysia remains high./.
