The prices of Vietnamese rice in the international market rose by 3-8 USD per tonne last week, helping Vietnam return to the top position in export rice prices, according to the Vietnam Food Association (VFA).
Thai rice exporters expect global prices will increase in the second quarter because of the impact of the El Niño phenomenon and India's rice export restrictions, reported the Bangkok Post.
The Office of the Ombudsman has ordered the preventive suspension of the National Food Authority (NFA) head and 138 other officials and employees for their alleged involvement in a sale of rice buffer stocks, Philippine Agriculture Secretary Francisco Tiu Laurel said on March 4.
The recent falls in rice prices are only short-term and the upward trend will continue in 2024 on limited supply, providing significant opportunities for Vietnam’s rice export, analysts have said.
The consumer price index (CPI) in October increased 0.08% from the last month and 3.59% from a year earlier, the General Statistics Office (GSO) reported on October 29.
The Philippines is considering options other than a price ceiling to tackle high rice prices, the country’s National Economic and Development Authority (NEDA) has said.
The Indonesian government has prepared a number of measures to deal with rising rice prices, which raises public concern in the Southeast Asian country.
Greater demand in the international market has resulted in higher rice prices in the domestic market in recent months, according to Minister of Agriculture and Rural Development Le Minh Hoan.
Rice prices in Vietnam's Mekong Delta region last week reached a record high in the last 10 years after India banned the export of non-basmati white rice.
The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses.
Vietnam recorded year-on-year growth of 3.15% in the 2022 consumer price index (CPI) while core inflation increased 2.59%, the General Statistics Office (GSO) said on December 29.
The consumer price index (CPI) posted year-on-year growth of 2.89% in the first 10 months of 2022 while core inflation rose 2.14%, the General Statistics Office (GSO) revealed on October 29.
Prime Minister Pham Minh Chinh has requested relevant ministries and sectors to take appropriate measures to stabilise the market and rice prices, and ensure the interests of farmers after information that India will restrict rice exports.
Vietnam’s consumer price index (CPI) in April was down 0.04 percent against the previous month while up 2.7 percent year on year, according to the General Statistics Office (GSO).
Vietnam exported 890,000 tonnes of rice worth 420 million USD in the first two months of 2020, a year-on-year increase of 27 percent and 32.6 percent and in terms of volume and value, respectively, according to the Ministry of Agriculture and Rural Development.
Rice prices will rise until the middle of the year as consumers around the world are beefing up their stockpiles, while China will not increase their exports for food security to deal with the outbreak of the acute respiratory disease caused by the coronavirus SARS-CoV-2 (COVID-19), the Thai Rice Exporters Association (TREA) forecast.
