Rice price today 11/05/2022: Rice price remains stable

rice price today 11/05/2022: Rice price remains stable rice price today in the Mekong Delta continues to stagnate after an upward adjustment session. According to traders, today the amount of raw rice imported is small, rice prices are stable compared to yesterday. Warehouses are stable, traders are asking to buy regularly. Over the past week, domestic rice prices continued to increase as demand remained high while the autumn-winter crop supply was limited. In the world market, the export rice price remained stable compared to yesterday. According to the Vietnam Food Association, the export rice price of 5% broken rice is at 428 USD/ton, 25% broken rice is at 408 USD/ton. According to businesses, currently, new contracts are higher than old contracts, but businesses are still not profitable because many businesses do not buy enough goods, because domestic supply is running out, forcing them to push up rice prices to attract goods, causing domestic rice prices to increase. That is the reason why domestic rice prices increase faster than export rice prices. The nature of the problem is that at the beginning of the year, many businesses signed very few contracts, so the general mentality is that when the export rice price increases and there are new contracts, many people sign to sell, but they do not expect that domestic rice prices increase faster than export rice prices. When the number of signed contracts is higher than the actual quantity of goods in the country and when businesses need goods to deliver to partners, they are forced to raise prices to mobilize, of course, domestic prices will have to be higher than export rice prices. However, rice prices will gradually stabilize again when the Mekong Delta enters the peak harvest season of the Autumn-Winter crop and the supply of goods on the market returns. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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