Rice price today November 6, 2022: Rice price remains stable

rice price today 11/06/2022: Rice price remains stable rice price today in the Mekong Delta continued to stagnate after an upward adjustment session. Last week, domestic rice prices continued to increase by 300 – 600 VND/kg compared to the previous week while demand remained high while the autumn-winter crop supply was limited. In the world market, the export rice offering price remained stable compared to yesterday. According to the Vietnam Food Association, the export rice offering price of 5% broken rice is at 428 USD/ton, 25% broken rice is at 408 USD/ton. The Chairman of the Vietnam Food Association said that in the first 10 months of the year, over 6 million tons of rice were exported, and it is expected that in 2022, 6.3 million to 6.5 million tons of rice will be exported, achieving the set plan and exceeding the target compared to 2021. The Russia-Ukraine war does not affect rice exports. Regarding prices, after India imposed a tax on white rice exports and stopped exporting broken rice, rice prices increased; farmers and businesses were very excited. However, Vietnam’s year-end export volume is not much because of the autumn-winter crop, with very limited output and acreage. Vietnam’s main rice export market is still the Philippines, accounting for about 48% of total exports. In October 2022, the price of 5% broken rice in Vietnam was at 425 – 430 USD/ton – the highest level since November last year. At this price, the price of 5% broken rice in Vietnam is 48 – 51 USD/ton higher than the price of the same type of rice in India and 18 – 27 USD/ton higher than that of Thailand. Rice exports thus reached more than 6 million tons, earning nearly 3 billion USD, up more than 17% in volume and more than 7% in value over the same period last year. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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