Sources of thuonghieucongluan.vn
In the past week, the price of rice products continuously increased slightly from 100-200 VND/kg. Rice prices, especially low-grade rice, have risen sharply after India’s move to tighten exports.
Currently, raw rice and finished rice IR 504 have increased to 8,700 VND/kg and 9,300 VND/kg, up 700 VND/kg and 450 VND/kg respectively compared to before. Similarly, the price of IR 504 plate also skyrocketed 800 VND/kg to 9,100 VND/kg; Dried bran increased by 650 VND/kg to 8,300 VND/kg.
Export price of rice has increased sharply with 5% broken rice and 25% broken rice. In terms of volume, in September, the volume of rice cleared to the Philippines and Africa markets decreased compared to the previous month while the volume delivered to China and Malaysia continued to increase slightly.
Assessing the rice market in the last months of the year, representatives of businesses said that the picture of supply and demand of the rice market is inclined to an uptrend in the fourth quarter of 2022 and early 2023. in many Asian countries, which account for 90% of global rice production, are putting rice supplies 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. In the context of declining supply and stable demand, world rice prices and Vietnam’s export rice prices will continue to increase in the coming time.