Vietnamese rice prices soar to near 4-year high.

Export prices for rice surged to a near 4 year high in Vietnam this week due to strong demand while slow buying interest put pressure on prices of Indian rice.The threat of floods also raised the prospect of Bangladesh stepping up purchases. Vietnam’s 5% broken rice prices rose to US$455-$460 a tonne, their highest since August 2014, versus $445-$450 last week. Prices continue to rise on stronger demand and tight supplies. Philippines is expected to purchase another 250,000 tonnes in an open tender on May 22, after accepting 250,000 tonne offers from Vietnam and Thailand last week. Vietnam exported 721,379 metric tonnes of rice in April, up 9.5% from March