According to Economy and Consumption
Reuters said heavy rains worrying to supply has pushed Vietnam’s 5% broken rice prices to a three-week high, rising from $ 415 to $ 450 per ton last week to about $ 425 to $ 457 this week. .
“Prolonged rain in the Mekong Delta continues to threaten the Summer-Autumn harvest, which affects the rice supply,” said a trader in Ho Chi Minh City.
Similarly, in India, the price of 5% broken parboiled rice also increased by US $ 4-5 per ton from the previous week, from US $ 378 to 378 per ton to US $ 377 – 382 this week.
Buyers in Asia are boosting imports to secure a large supply amid growing COVID-19 infections on the continent, according to an exporter based in Kakinada, in the South. Andhra Pradesh state.
Along with that, the rupee trading near the highest level in three months against the US dollar has supported the export price of Indian rice.
Rice production at the world’s top rice exporter could rise to a record high thanks to monsoon rains, and thanks to the government raising the purchase price for the new crop.
Meanwhile, Bangladesh may reduce taxes on imported rice in an effort to prevent domestic prices from rising, the Bangladesh Food Minister said.
Thai rice prices plummeted
In Thailand, Thailand’s 5% broken rice price recorded at 455 – 485 USD / ton on 9/7, the lowest level since the beginning of March and lower than 514 – 520 USD / ton of last week.
“Demand has been low in recent weeks and this has pushed prices down,” said a rice trader in Bangkok.
Export rice prices fell despite the Thai baht trading at a low level for nearly a month against the US dollar this week, as Thai rice was still more expensive than other rivals like Vietnam and India after a drought dragged on. long at the beginning of the year.
