HANOI: Vietnam will lower the export price floor for 25 percent broken rice by 2.9 percent to $330 a tonne, an industry body said on Tuesday, in a move to boost falling rice exports.
The new floor on free-on-board basis will come into effect on Wednesday, replacing the previous floor of $340 per tonne in effect since early June, the Vietnam Food Association said in a statement seen by Reuters.
Rice shipments from Vietnam, the world’s third-largest exporter after India and Thailand, were down 8.8 percent in the first seven months of this year to 3.3 million tonnes, data from the food association showed.
