Rice market vibrant again

ABO/NDO- The domestic and world rice trading markets have once again become gainful, after several weeks of stagnant prices and transactions. Vietnam’s export rice prices remain high compared to many other countries around the world.

Specifically, Vietnam’s 5% broken rice price reached 613 USD per tonne on October 4, while the price of Thai rice fell to below 600 USD, at 586 USD per tonne and the Pakistani rice price was 558 USD per tonne.
Unhusked rice prices in provinces throughout the Mekong Delta region have also advanced in the past few days.

Farmers promote the production of high-quality rice varieties to increase selling prices.

On October 3, in An Giang, the price of fresh unhusked rice IR 50404 fluctuated between 7,800-7,900 VND per kg, an increase of 100 VND per kg and the price of OM 5451 unhusked rice ranged at 7,700-8,000 VND per kg, an increase of 100 VND per kg.

Because rice prices tend to rise, the market has seen more transactions, which is also a favourable opportunity for farmers to produce and consume autumn-winter rice.

According to the Ministry of Agriculture and Rural Development, Vietnam’s rice exports hit 3.66 billion USD in the first nine months of 2023, an increase of 40.4% over the same period last year. The country expects to export 4 billion USD of rice during the entire 2023.

(Source: NDO)