Rice price today 10/02/2022: no fluctuation

rice price today October 2, 2022: no fluctuation Today’s rice price in the Mekong Delta has no fluctuation compared to yesterday. Last week, domestic and export rice prices increased sharply. In the domestic market, transactions between warehouses and factories slowed down, the slow number of orders caused rice prices to increase slowly. Last week, prices of rice products continuously increased slightly by 100 – 200 VND/kg. Rice prices, especially low-grade rice, increased sharply after India’s move to tighten exports. In the world market, export rice prices remained stable after the upward adjustment session. 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. Last week, export rice prices increased sharply for 5% broken rice and 25% broken rice. In terms of volume, in September, the volume of rice cleared to the Philippines and Africa decreased compared to the previous month, while the volume delivered to China and Malaysia continued to increase slightly. Assessing the rice market in the last months of the year, businesses said that 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 supply in an alarming shortage. India’s ban on rice exports, while China is forecast to import a record 6 million tons of rice next year, will be an opportunity for Vietnam’s rice export industry. In the context of declining supply and stable demand, world rice prices and Vietnam’s rice export prices will continue to increase in the coming time. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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