Rice price today September 14, 2022: Export rice price increased by 7 USD/ton

rice price today September 14, 2022: Export rice price increased by 7 USD/ton Today’s rice price in the Mekong Delta remained stable compared to yesterday. Meanwhile, 5% broken rice export price increased by 7 USD/ton. In the world market, the export rice offering price increased sharply. Currently, the price of 5% broken rice is at 400 USD/ton, up 7 USD/ton. Meanwhile, 25% broken rice and 100% broken rice remained stable at 378 USD/ton and 383 USD/ton. Rice transportation has been suspended at Indian ports in recent days and nearly 1 million tons of grain are stuck because buyers refuse to pay the additional 20% export tax imposed by the Indian Government. According to businesses, as Indian exporters stop signing new contracts, buyers are trying to secure supplies from Vietnam, Thailand and Myanmar. The price of 5% broken white rice has increased compared to last weekend. It is forecasted that rice prices will continue to increase in the coming days. Mr. Nguyen Quang Hoa, Director of Duong Vu Company Limited (Long An province), commented that India’s new policy could cause world rice prices to increase by about 20%, equivalent to the rice export tax that this country applies. “They limit exports because drought and crop failure can affect domestic food security. That means the supply is reduced, which will have a long-term impact. This move is different from the previous situation of abundant supply but slow transportation of goods due to the Covid-19 pandemic. Given the new developments, many Vietnamese rice businesses are stopping sales because they are forecasting that prices will increase rapidly in the near future,” Mr. Nguyen Quang Hoa analyzed. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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