Rice price today November 24, 2022: Scarce supply pushes rice prices up

rice price today November 24, 2022: Scarce supply pushes rice prices up rice prices today in the Mekong Delta continue to increase with finished rice. Many businesses said that scarce supply has caused rice prices to remain high. According to traders, today the amount of raw rice is stable, warehouses are buying regularly. The rice market is stable, prices tend to increase. Meanwhile, the rice market today adjusted up sharply by 200 – 400 VND/kg, trading is stable. In the world market, the export rice offering price adjusted up sharply after a series of sideways days. According to the Vietnam Food Association, the export rice offering price of 5% broken rice is at 438 USD/ton, up 10 USD/ton; 25% broken rice is at 418 USD/ton, up 10 USD/ton. With this price, Vietnamese rice prices have now risen to the top in the world. According to the Vietnam Food Association (VFA), after nearly 2 years of implementing the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam’s rice exports in particular are gradually asserting their position in the EU market. Fragrant rice and high-quality rice such as ST24, ST25, Jasmine… are popular among people in this region. The EU has granted a quota of 80,000 tons of rice with a preferential tax rate of 0% after the EVFTA comes into effect. It is forecasted that Vietnam’s rice exports to the EU market in 2022 will reach at least 60,000 tons. Vice President of the Vietnam Food Association Do Ha Nam said that the high export price of rice is due to the increase in the USD exchange rate, not only rice exporting enterprises but also rice farmers benefit. Forecasting the rice market at the end of the year, businesses believe that the upward price trend will last until the end of December. #rice price #agriculture #nhanong #mientay #rice #gaonguyenlieu #gaothanhpham #giagaohomnay #giagaole

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