Rice price today August 30, 2022: rice price continues to be stable

rice price today August 30, 2022: Rice price continues to be stable Today’s rice price in the Mekong Delta provinces continues to move sideways with other types of rice. Rice supply is low, mainly asking to buy NL IR50404 and NL OM5451 rice but in small quantities. Rice transactions are sporadic, depending on the type of rice. Export rice price today August 29, export rice offering price continues to move sideways. Currently, the price of 5% broken rice is at 393 USD/ton; 25% broken rice is 378 USD/ton, 100% broken rice is 383 USD/ton. While Vietnamese rice prices remain stable, Indian and Thai rice prices have increased this week due to unstable weather, prompting Asian customers to buy more grain for storage. Many rice exporting enterprises predict that rice export prices will hardly have a strong breakthrough when wheat prices have returned to the level before the Russia-Ukraine conflict, and supplies from major rice producing countries are also abundant. The market expects new breakthrough signals. In early August 2022, Vietnam’s rice export prices suddenly dropped sharply and after several adjustments, the export prices of 5% broken rice and 25% broken rice from Vietnam fell below the 400 USD mark, lower than the price of Thai rice, although before that, Vietnam’s rice export prices continuously held firm and took the top position among the four traditional rice exporting countries: Vietnam, Thailand, Pakistan and India. Mr. Nguyen Van Don – Director of Viet Hung Company Limited (Tien Giang) said that since early August 2022, exports have decreased due to China – one of the markets importing high-quality rice – reducing import quantity. Meanwhile, the main consumer market, the Philippines (accounting for nearly 50% of Vietnam’s total rice export turnover), only has a demand for importing rice with average prices. “Other markets are still stable but import output is not high. Therefore, the rice market is likely to continue to be quiet until the end of the summer-autumn rice harvest, and it may only recover in late September and early October,” Mr. Nguyen Van Don added. However, many rice traders also predict that Vietnam’s rice export prices will not decrease further because the Mekong Delta is preparing to finish the summer-autumn harvest, and supply will gradually decrease. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham

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