Rice export price highest in more than 3 months

According to the Vietnam Food Association, Vietnam’s 5% broken rice is being offered for sale at up to $420/ton, up more than $5 from a week ago.

Although demand is stable, some traders are still hesitant to sign new contracts, due to high shipping costs due to world geopolitical tensions, as well as waiting for some countries in the world Southeast Asia will relax the rice import quota of Vietnam in the near future.

Vietnam’s 5% broken rice is being offered for sale up to 420 USD/ton. (Illustration image – Photo: Investment Newspaper)

The Philippines, Vietnam’s largest rice importer, issued a temporary restriction on grain imports from Vietnam in November 2021, amid bountiful domestic crops.

Rice price 5% of Thai slabs fell slightly to $410-428/ton from $415-$428/ton last week and also the highest level since the end of June 2021.

“The baht has weakened and domestic rice prices will fall next week due to new additional supplies,” a trader said.

In Thailand, demand for low-quality rice from domestic feed mills remains high, traders said, as these companies want to use more rice in feed mixes amid the backdrop wheat and corn prices rise.

Meanwhile, the demand for low-quality rice from abroad is almost nonexistent, except for export activities to Iraq.

The price of 5% broken rice in India, the world’s top rice exporter, was reported at $371-378 per tonne, unchanged from last week, driven by demand for feed ingredients. is still high.

“Broken rice is on the hunt. Feed manufacturers are replacing maize with 25% broken rice and 100% broken rice,” said an exporter based in the city of Kakinada in the southern state of Andhra Pradesh. degrees), said.

In neighboring Bangladesh, domestic rice prices rebounded over the past week despite a positive crop outlook and well-maintained stockpiles, traders said.

* Invite readers to watch programs broadcast by Vietnam Television on TV Online and VTVGo!