Asia Rice-Shipping container crunch lifts Vietnam rates to 9-year peak
Rice export prices in Vietnam jumped to their highest since December 2011 this week, as a shortage of containers sent freight rates soaring and pushed Thai prices of the staple to a near four-month peak.
Prices for Vietnam’s 5% broken rice RI-VNBKN5-P1 rose to $500 per tonne, their highest since December 2011, from last week’s $470-$490.
“A shortage of containers has made it difficult for traders to ship rice to their customers,” a trader based in the Mekong province of An Giang said.
For instance, freight rates for a 20-feet container to Africa has risen to $5,000 from $1,500 a couple of months ago, the trader added.
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By Anjishnu Mondal
Dec 17 (Reuters) - Rice export prices in Vietnam jumped to
their highest since December 2011 this week, as a shortage of
containers sent freight rates soaring and pushed Thai prices of
the staple to a near four-month peak.
Prices for Vietnam s 5% broken rice rose to
$500 per tonne, their highest since December 2011, from last
week s $470-$490. A shortage of containers has made it difficult for traders
to ship rice to their customers, a trader based in the Mekong
Asia Rice-Shipping container crunch lifts Vietnam rates to 9-year peak reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
December 14, 2020
A farmer plants rice in a paddy field in Thailand s Nakhonsawan province, Aug 16, 2015.
Reuters
Thailand’s famous jasmine rice claimed yet another top prize on the world stage this month, marking the sixth such honour the World Rice Conference has bestowed on the fluffy, fragrant and full-bodied grain since 2009.
The “Khao Dawk Mali 105” – a code name for the most renowned Thai jasmine rice variety – defeated rivals from Cambodia, China, the United States and Vietnam with “its combination of aroma, texture, and flavour”, said the judging panel at the annual forum for rice suppliers and policymakers.
Thai growers attributed the win to an early onset of cool winds that swept Thailand ’s northeast earlier this year, making the grains “particularly shiny, strong and fragrant”, said Charoen Laothamatas, president of the Thai Rice Exporters Association.