Uncertainty boosts Vietnam’s rice prices in global markets

Hanoi, Feb 9 (Prensa Latina) The economic and political uncertainties being faced by the world have benefited Vietnam's rice prices, which have reached their highest level in the last two years, sources from the sector reported in this capital.

February 9, 2023
00:15

Anxiety has pushed many countries to increase imports to grow their rice reserves, with the consequent increase in its value in the international market, Do Ha Nam, Vice Chairman of the Vietnam Food Association (VFA), said.

According to the official, quoted by The Voice of Vietnam, until February 5, Vietnam’s rice price had risen by 15 dollars per ton since late January, when 5-percent broken rice was traded at 473 dollars per ton and 25-percent broken rice was sold at around 453 dollars per ton.

In mid-January, the VFA itself predicted that domestic rice exporters would have a clear advantage this year, thanks to high prices and the enormous demand for rice worldwide.

Many companies have already received orders until April or even the third quarter of this year, Ha Nam informed at the time, noting that thanks to high-quality jasmine rice, the country has seen rapid growth in demanding markets such as the United States and the European Union.

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