A farmer harvests rice by a paddy field outside Hanoi, Vietnam June 10, 2019.
Exporters are rushing to cover rice supplies from farmers who have raised prices following a surge in the world market, putting millions of dollars worth of deals at risk.
2 and 3 exporters respectively, are estimated to ship more than one million metric tons of rice in August.
While large exporting houses are likely to fulfil contracts, smaller trading companies are expected to default on shipments, traders said.
Importers, including the Philippines, are likely to seek direct deals with governments of exporting countries to ensure critical food supplies.
Persons:
Rice, Naveen Thukral, Khanh Vu, David Evans
Organizations:
REUTERS, Reuters, Rice, Thomson
Locations:
Hanoi, Vietnam, Thailand, SINGAPORE, India, Asia, Africa, Singapore, Ho Chi Minh City, Philippines