Vietnam rice export prices rise

Vietnamese rice export prices rose last week as concerns over potential El Nino-related impacts on production weighed on prices, reports Reuters.

Vietnam's 5% broken rice was offered at $415-$420 per metric ton on Thursday, up from $405-$410 a week ago.

"Prices rise on concerns of possible impact of El Nino on rice production in Asia," a trader based in Ho Chi Minh City said, adding that Vietnam is often prone to harsh weather conditions.

The World Meteorological Organization said there is an 80% chance of an El Nino event developing between June and August, and a 90% chance it will last until at least November.