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Large orders from Chinese traders push up price of Vietnamese rice

HANOI -- Large orders for rice by Chinese traders are driving up rice prices in Vietnam, officials and state media said Wednesday. A prolonged drought has raised food security concerns in China, said Vietnamese deputy Agriculture Minister Nguyen Thanh Bien.

According to the Vietnam Food Association (VFA), Chinese traders have bought some 600,000 tons of Vietnamese rice since April. In the same period, the price of paddy rice rose from 3,500 dong (US$0.19) to 4,600 dong (US$0.25) per kilogram.

China is not usually one of the major importers of Vietnamese rice, and rarely buys any later than May, Vietnamese media said.

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