Falling rice prices only short term, expert says

Rice prices are dropping on the psychology of waiting for clearer market trends from rice-import plans of importing countries. — VNA/VNS

HANOI: The recent falls in rice prices are only short-term; the upward trend will continue in 2024 on limited supply, providing significant opportunities for Vietnam’s rice export, analysts say.

According to data from Vietnam Food Association, export rice prices for Vietnam are moving sideways after sharp drop. The price of 25% broken rice dropped by US$20 per tonne in the past week to US$584 per tonne and 5% broken rice by US$19 to US$609, slightly lower than in Thailand.