Rice price today October 1, 2022: Vietnam’s rice exports reach and exceed the plan in 2022

rice price today October 1, 2022: Vietnam’s rice exports meet and exceed the plan in 2022 Today’s rice prices in the Mekong Delta continue to remain stable. According to the Vietnam Food Association, the export price of 5% broken rice is at 423 USD/ton, 25% broken rice is at 403 USD/ton. The Vietnam Commodity Exchange (MXV) said that according to the 2022 plan, Vietnam’s rice exports will reach about 6.3 to 6.5 million tons, 100,000 to 200,000 tons higher than in 2021. If there are no new unfavorable factors, Vietnam’s rice exports in 2022 will likely meet and exceed the plan. Vietnam’s rice export prices increased sharply following the increase in world agricultural prices. Vietnam’s 5% broken rice is currently being exported at $433 per tonne, also up about 10% from the price recorded at the beginning of this year. Rice prices are supported as exporters increase purchases from farmers. However, domestic rice supplies are running low as the summer-autumn harvest has ended and it will take at least two more months before the new harvest begins. The Vietnam Commodity Exchange (MXV) said that, in general, the supply and demand picture of the rice market is leaning towards an upward trend in the fourth quarter of 2022 and early 2023. Extreme weather in many Asian countries, which account for 90% of global rice production, is putting rice supplies in an alarming shortage. India’s export ban, while China is forecast to import a record 6 million tonnes of rice next year, will be an opportunity for Vietnam’s rice export industry. As an essential food, the demand for rice will not be affected by the economic recession like other commodities. In the context of decreasing supply and stable demand, world rice prices and Vietnam’s rice export prices will have room to continue to increase in the coming time. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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