According to records from businesses, the price of rice has increased recently, but it is currently very difficult to buy rice. The reason is that most of the rice has been purchased by traders from the beginning of the crop, while businesses have to collect goods to pay the signed orders at low prices before.
Mr. Phan Van Co, Marketing Director of Vrice Co., Ltd. predicts that the increase in rice prices will probably last until the end of August 2023 due to unstable market sentiment. When the market sentiment stabilizes, the market can trade normally again.
The price of rice this year increased more than the average of years.
The price of rice this year increased more than the average of years.
Mr. Do Ha Nam, Chairman of the Board of Directors of Intimex Import-Export Joint Stock Company, said that the traditional markets of our country such as the Philippines, Indonesia, China ... all have a large demand for importing Vietnamese rice with a large volume of rice. orders from 500,000 to 1.5 million tons. Some markets in Europe and Africa are also actively looking for rice imports from Vietnam.
According to the Vietnam Food Association, from the beginning of 2023, export rice output reached nearly 3 million tons, an increase of more than 40%; export price of rice reached 534 USD/ton, an increase of more than 9% compared to 2022.
In order to avoid losing control of rice prices, the Ministry of Industry and Trade is committed to closely monitoring the market situation to promptly support businesses as well as balance supply and demand. The ministry also suggested that rice exporters must regularly maintain a circulation reserve of at least 5% of the rice they have exported in the previous 6 months.
In case there is sufficient supply and good conditions for rice export, the Ministry of Industry and Trade will coordinate with the Ministry of Agriculture and Rural Development to strictly control the quality of exported rice, to avoid the situation that because of the opportunity to increase prices, the conditions of importing countries are loosened. that businesses neglect to control food safety. On the contrary, if there is a shortage, the Ministry of Industry and Trade will propose control measures