Rice price today October 16, 2022: Market is bustling thanks to demand from China and the Philippines

rice prices today October 16, 2022: The market is bustling thanks to demand from China and the Philippines Today’s rice prices in the Mekong Delta remain stable compared to yesterday. Domestic and export rice prices have continuously increased over the past week. Domestic and export rice prices have continuously adjusted upward over the past week. The trading market is more vibrant. The reason is that Chinese and Philippine customers are currently continuing to increase rice purchases to make up for domestic shortages. In the world market, the export rice offering price remains stable compared to yesterday. According to the Vietnam Food Association, the export rice offering price of 5% broken rice is at 438 USD/ton, and 25% broken rice is at 418 USD/ton. Many businesses predict that the rice market in the fourth quarter will continue to be vibrant thanks to the demand for rice imports from countries, especially in the two key markets of the Philippines and China, so Vietnam’s rice export prices will remain high until the autumn-winter harvest and even the winter-spring crop. 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. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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