Rice price today August 20, 2022: raw rice and finished product prices remain stable

rice price today August 20, 2022: raw rice price, finished product price unchanged rice price today in the Mekong Delta provinces is unchanged after a downward adjustment session. Currently, in localities, summer-autumn OM 18 rice transactions are gloomy, factories proactively offer reduced selling prices. According to traders, raw rice is coming in slowly, warehouses are still buying at a moderate level, with very few transactions. In the world market, the export rice offering price remains stable. 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. According to Export Director of Loc Troi Group Nguyen Van Hieu, Vietnamese rice is facing fierce competition with Thai, Cambodian, and Indian rice. This makes rice export face many difficulties in the context of high input costs. Because if sold at low prices, farmers will no longer be interested in growing rice. But if sold at high prices, Vietnam’s rice market share in the world will be lost to other countries. Mr. Pham Quang Dieu, Agromonitor Company, said that currently, Vietnam’s fragrant rice segment such as ST, Dai Thom 8, OM 18, Jasmines… has very attractive prices but unfortunately the output is still small (accounting for less than 40%). Thus, to reduce competition, Vietnam needs to promote the production of fragrant rice, high-quality rice, and nutritious rice to meet market demands. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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