Rice price today December 3, 2022: Rice price remains stable

rice price today 12/03/202: Rice price remains stable rice price today in the Mekong Delta remains stable. Low supply pushes rice prices to stay high. According to traders, the rice market is bustling today, rice prices tend to increase. According to the Vietnam Food Association, the export price of 5% broken rice is at 438 USD/ton; 25% broken rice is at 418 USD/ton. With this price, Vietnamese rice prices continue to maintain their leading position in the world. In the past week, rice deliveries to all markets tended to increase compared to the previous week. Specifically, the number of customers inquiring about buying fragrant Dai Thom 8/OM 18 and OM 5451 rice in the Philippines increased sharply. Currently, this market continues to maintain its leading position with the amount of rice cleared accounting for nearly 55% of total exports. Rice export prices in major Asian hubs rose this week as strong demand emerged from Indonesia, with some buyers switching to cheaper Indian grades, traders said. Vietnam’s 5 percent broken rice was quoted at $440-$445 a tonne free on board (FOB) rice, up from $438 a week ago. Prices are rising on strong demand, especially from Indonesia’s food procurement agency Bulog. However, Vietnam’s price hike has prompted Cuban buyers to switch to cheaper Indian rice. In addition, dwindling domestic supplies are likely to keep Vietnamese rice prices high in the coming weeks. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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