In the December 21 session, Vietnam’s 5% broken rice was priced at 660 – 665 USD/ton, the highest price recorded since 2008 and the highest in the world. The scarcity of supply has led to a rise in rice prices, according to a Ho Chi Minh City trader.
Thailand’s 5% broken rice followed with a price of 646 – 650 USD/ton due to large orders from the Philippines this week.
On December 18, Prime Minister Srettha Thavisin announced that Indonesia had expressed interest in purchasing two million tons of grain from Thailand.
India’s export rice prices have also increased due to output concerns. The price of 5% broken parboiled rice in India is being offered at the highest level in two months, at over 500 USD/ton.
An exporter in Kolkata said that due to the increasing gap between Indian rice prices and those of other countries, customers are now willing to accept higher prices.
India’s rice output is expected to decline this year for the first time in eight years, and New Delhi will likely extend export restrictions to keep prices low ahead of the general elections in 2024.
@vtv.vn
Related
Source: Vietnam Insider