date:Jul 29, 2014
Traders paid VND5,300 a kilogram of fresh rice, which fetched only VND4,300-4,500 a month ago, said farmer Tran Van Het from Tam Binh District, Vinh Long Province.
Businesses are rushing to buy rice partly for export contracts that they had signed, according to a local business.
Vietnam has exported over 3.34 million ton rice worth US$1.5 billion since early this year, reported the Vietnam Food Association (VFA).
Several companies did not stock up rice when the prices were low two months ago