Rice price today 09/01/2022: rice price continues to be stable

rice price today September 1, 2022: Rice price continues to be stable. Today’s rice price in the Mekong Delta provinces continues to move sideways with other types of rice, on the first day of September. Export rice prices continue to move sideways. Currently, the price of 5% broken rice is at 393 USD/ton; 25% broken rice is 378 USD/ton, 100% broken rice is 383 USD/ton. Mr. Do Ha Nam – Vice President of the Vietnam Food Association said that there are currently 2 factors affecting the Philippine rice market, that is, this country is in the rice harvest season and in the first 7 months of the year they have imported too much rice, while in the Philippines there have been no sudden changes such as storms, floods or any significant losses. Therefore, their inventories are high and they may reduce imports in the 4th quarter. Also during this time, rice exports to China reached 466,225 tons, worth 242.735 million USD. Compared to the same period last year, it decreased by 27.53% in volume and 28.22% in value. The Chinese market has a huge demand for imported glutinous rice, although the price of glutinous rice is very high, Chinese traders still cannot find it. According to the United States Department of Agriculture (USDA), in August 2022, the forecast for global rice production in the 2021-2022 crop year is expected to increase slightly compared to the previous forecast. Imports will increase due to higher demand from the markets of Bangladesh, the Philippines and Iraq. In the Philippines, the amount of imported rice in 2022 is expected to reach 3.2 million tons. Thus, the reduction in Vietnam’s rice prices is only temporary, the market will be active again from the beginning of the fourth quarter of 2022. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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