Rice price update on July 29, 2023: Rice price increases

Rice price update on July 29, 2023: Rice prices increase Today’s rice prices in the Mekong Delta continued to increase with rice. In the export market, Vietnam’s export rice prices remained stable. Specifically, 5% broken rice was traded at 558 USD/ton; 25% broken rice was at 538 USD/ton. This is the highest offering price that Vietnamese rice enterprises have offered since July 2021. Mr. Nguyen Van Thanh, Chairman of the Board of Directors and General Director of Phuoc Thanh IV Production – Trading Company Limited, said that before the news that India banned rice exports, many businesses in the industry temporarily stopped offering new contracts to focus on taking care of previously signed contracts. India’s move appeared along with the recent limited world supply, so many customers switched to ordering Vietnamese rice. However, according to Mr. Thanh, businesses are currently focusing on returning goods for signed orders. On the other hand, the price of purchased rice is increasing so many businesses are worried because the price of exported rice has not kept up. #nhanongmientay #gia_gia_gia_gaohomnay #gialuagao

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