Rice price today 08.03.223: Rice price is stable

Rice price update on March 8, 2023: Stable rice prices Rice prices at noon today in the Mekong Delta have slowed down. Currently, businesses are increasing purchases, making the market more bustling. In the world market, Vietnam’s export rice offering price today has been adjusted down by 5 USD/ton. Currently, the price of 5% broken rice is at 443 USD/ton, down 5 USD/ton; 25% broken rice remains at 423 USD/ton, down 5 USD/ton. According to the February 2023 Rice Supply and Demand Outlook Report of the US Department of Agriculture (USDA), global rice production in the 2022/23 crop year is forecast to reach 503 million tons (milled rice), almost unchanged from last month’s forecast, but 2% less than the previous year’s record and the first annual decline since the 2015/16 crop year. Global rice production is at its lowest since 2019/20. This month, rice production is forecast to increase in Bangladesh, Sri Lanka, Thailand and Uzbekistan, and decrease in Argentina, Brazil, Cuba, the EU and Vietnam. #rice_prices_today #western_farmers #market_prices

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