Rice price today 02/11/2023: price drops slightly

rice price today 02/11/2023: price slightly decreased rice price today in the Mekong Delta, rice price slightly decreased. According to traders, today the rice supply is low, rice price is more stable. The Winter-Spring rice market is slow, farmers offer to sell a lot but traders ask to buy little, high price. The supply of the 2022-2023 Winter-Spring crop is low. Winter-Spring rice price tends to decrease, rice trading slows down. In the world market, the export price of Vietnamese rice today is flat after a downward adjustment session. Currently, the price of 5% broken rice is at 468 USD/ton; 25% broken rice remains at 448 USD/ton. Mr. Nguyen Van Thanh – Director of Phuoc Thanh IV Production – Trading Company Limited said that although rice export in the first month of the year decreased, this was not due to lack of demand but because domestic supply was not much. Currently, the Winter-Spring crop in some places has changed its schedule, planting later, so there is not much rice for businesses to buy. In addition, the export price of rice is offered at a high level, so customers have not boldly signed new contracts but are probing prices. Regarding the reason for the increase in rice prices, Mr. Thanh said that currently, some contracts for 2022 are still outstanding, businesses are taking advantage of buying to deliver to customers. On the other hand, domestic inventories are still low, so businesses are buying to have reserves, moreover, the Winter-Spring crop is a good quality rice crop, leading to an increase in rice prices. Currently, the company is purchasing rice at a price of 6,800 – 7,100 VND/kg. “Our company is also focusing on purchasing to have a source of goods, signing contracts for new export orders as well as supplying the domestic market,” Mr. Thanh shared. #rice_price #agriculture #fresh_rice_price #farmers #farming #farmers #ir50404 #Fresh_rice_husk #Long_An_sticky_rice #OM9577 #OM9582 #OM5451 #NangHoa9 #OM6976 #OM18 #Japanese_rice #Western_Farmers #Farmer_news #Market_prices

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