Rice price today October 12, 2022: Rice price increased by 100 – 150 VND/kg

rice price today October 12, 2022: Rice price increased by 100 – 150 VND/kg Today’s rice price in the Mekong Delta increased by 100 – 150 VND/kg. In the context of decreasing supply and increasing demand, rice prices will have more room to increase. Today, the amount of rice arriving is low, factories tend to offer prices higher, prices of all types of rice tend to increase, traders ask to buy a lot, and transaction volume is quite good. Rice prices receive support in the context of exporters increasing purchases from farmers. However, domestic rice supply is running out because the summer-autumn harvest has ended and it will take at least two more months before the new harvest begins. 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 428 USD/ton, 25% broken rice is at 408 USD/ton. The supply-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. As an essential food, rice demand will not be affected by economic recession like other commodities. In the context of declining supply and stable demand, world rice prices and Vietnam’s rice export prices will have room to continue to increase in the coming time. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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