Rice price update on May 12, 2023: Rice prices remain stable. Today’s rice prices in the Mekong Delta remain stable. The market is stable. According to traders, at the beginning of the week, the amount of raw rice imported was low, and the prices of all types of rice tended to increase. In the export market, according to the Vietnam Food Association, the export price of 5% broken rice from Vietnam was at 488 USD/ton; 25% broken rice was at 468 USD/ton; Jasmine rice was at 553-557 USD/ton. According to businesses, since the beginning of the year, rice exports to African markets have recorded negative growth. However, customers in Asia including the Philippines, China, Malaysia, Indonesia, etc. have massively bought Vietnamese rice in large quantities. Accordingly, in the first 4 months of 2023, rice exports to these Asian markets all grew by 3 to 4 digits. Currently, the Philippines is still the largest customer of Vietnamese rice exports. As of the end of April 2023, the value of rice exports to this market reached 647.5 million USD, an increase of 53.4% over the same period last year and accounting for 42.4% of the total value of rice exports of our country. #western_farmers #market_prices #rice_prices_today
source
