The price of rice remained stable in other Asian countries except

18-Jun-2024 08:59 PM

Vietnam. Hanoi. Although the price of rice remained almost stable in India, Thailand, Pakistan and Myanmar last week, it came down from $ 575-580 per tonne to $ 570-575 per tonne in Vietnam.

This is the price of rice with a 5 percent breakage. It is understood that due to the increase in transportation costs, exporters are having to reduce the price of rice. However,

the export demand for Vietnamese rice is good. Many other countries including Indonesia and the Philippines are showing good interest in buying Vietnamese rice.

A plan has been made to reduce customs duty on rice imports in the Philippines so that the rise in rice prices in the domestic market can be curbed through cheap imports.

According to official data, although rice exports from Vietnam declined by 14.60 percent to 8.56 lakh tonnes in May as compared to April, but during the first five months of the current year i.e.

January-May 2024, it increased by 11.20 percent to a high of 40.20 lakh tonnes. It is understood that Vietnam is getting a golden opportunity to increase its rice exports due to the ban on export of non-basmati white (raw) rice from India and insufficient stock availability in Thailand.

The export offer price of 5 percent broken Indian Sela rice remained firmly at the old level of $ 539.546 per tonne.