2023-08-06 11:22:00
Rice export prices at 15-year high
Paddy prices in the Mekong Delta last week continued to rise in many localities. Meanwhile, the export price of 5% broken rice hit a 15-year high of USD 590-600 per tonne, higher than last week’s USD 550-575 per tonne.
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Rice export prices at their highest for 15 years. Photo: VNA/CVN
A trader in Ho Chi Minh City said rice prices would continue to rise following India and some other countries restricted their exports.
Commenting on the short to medium term outlook, many traders said that they were unsure how much further the price would rise. Over the past two weeks, Vietnamese rice prices have risen sharply, driven by strong demand from exporters and processors.
According to the Ministry of Agriculture and Rural Development, in July the price of summer-autumn rice in the Mekong Delta increased by an average of 200 to 500 VND per kilogram depending on the type. Prices also tended to rise in July.
Last week, prices continued to rise sharply in most major rice export hubs in Asia, amid concerns over the risk of supply shortages following India’s export restriction.
In the market, the price of Thai 5% broken rice hit a 15-year high, reaching USD 627-630 per ton, significantly higher than the USD 545 recorded the previous week.
VNA/CVN
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