Rice price today December 9, 2022: Rice price remains stable

rice price today December 9, 2022: Rice price remains stable Today’s rice price in the Mekong Delta remains stable. In the world market, rice export is facing many new challenges. According to traders, today the amount of rice is stable, the price of rice is stable. The rice market fluctuates depending on the demand for each product. Specifically, ST rice transactions have slowed down, traders have almost stopped buying, prices have decreased. Meanwhile, in the rice market, Japonica rice has continuously increased in price in the past 3 months and reached a record high in history due to scarce rice supply and high demand. In the export market, export rice prices have stagnated and tended to go sideways after the upward adjustment session. According to the Vietnam Food Association, the offering price of 5% broken rice for export is at 448 USD/ton; 25% broken rice is at 433 USD/ton. Commenting on the rice export market in 2023, Mr. Nguyen Van Thanh – Director of Phuoc Thanh IV Production and Trading Company Limited said that the total demand for world rice trade in 2023 may not change much. However, the unknown factor of the market lies in whether India will remove the 20% tax on exported rice or not. “India accounts for 40% of the global commercial rice supply. Indian rice also has quite competitive prices compared to Vietnam’s white rice segment. Therefore, if this country removes the 20% tax regulation, along with the depreciation of the rupee, Indian rice prices may be cheaper than Vietnamese rice. This makes Vietnam’s white rice segment face fierce competition from Indian rice,” Mr. Thanh analyzed. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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