Vietnamese rice prices hit highest in over two years.

In Vietnam, the 5-percent broken rice RI-VNBKN5-P1 was quoted at $395-$400 a tonne, FOB Saigon, up from $390 last week, and the highest level since November 2014. Prices are expected to rise further in Thailand and Vietnam, the world’s second and third biggest rice exporters. Demand from key importers of the grain has been strong this year. Most private traders and farmers are still holding grains for higher prices. Bangladesh also plans to increase rice imports from Vietnam to 500,000 tonnes by end-2017 and to buy 1 million tonnes of Vietnamese rice annually until 2022.