As rice export businesses forecasted, rice prices fell sharply on August 12, after briefly rising.
The price of IR 50404 unhusked rice sold at Ba Dac and Tan Binh, Mekong Delta province of Tien Giang sunk especially low and is only VND5,750 per kilogram, a decrease of VND250 per kilogram compared with the day before.
The price of long grain brown rice dropped from VND6,200 to VND5,900 per kilogram. However, the amount of rice sold has been limited, due to a lack of buyers.
Plummeting rice prices led to the fall of rice paddy prices as well.
Price for IR 50404 paddies are VND4,200 per kilogram, a decrease of VND300 per kilogram since yesterday. The long brown rice paddy price stands at only VND4,300 per kilogram.
