Rice price today 07.05.2023: Rice price remains stable

Rice price update on May 7, 2023: Rice prices remain stable. Today’s rice prices in the Mekong Delta remain stable compared to yesterday. Over the past week, rice prices have increased for many products. However, many rice exporting enterprises are currently facing difficulties in accessing credit capital, especially when the rice price level is high. “Current rice prices reflect the true market price, not an excessively high selling price, because farmers’ investment costs have continuously increased in recent years,” said Mr. Nguyen Tuan Khoa, Director of Phuoc Thanh II Company Limited (Vinh Long). According to the Vietnam Food Association, the export price of 5% broken rice from Vietnam fluctuates around 483-487 USD/ton; 25% broken rice is at 463 USD/ton; Jasmine rice is at 553-557 USD/ton. Statistics show that by mid-April 2023, the country’s rice exports reached nearly 2.4 million tons of rice, worth 1.251 billion USD, up 33.70% in quantity and 44.55% in value over the same period in 2022. Notably, in the first months of 2023, the average export price of rice reached 531 USD/ton, up 9.2% over the same period. This is considered the highest level in the past 10 years. Notably, the average export price of rice to China reached 589 USD/ton, up more than 18% over the same period last year. #western_farmers #market_prices #rice_prices_today

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