The wholesale price of rice in the Brazilian market fell -15.98% YoY to 0.66 USD/KG in W3 October 2021. Rice price decline also occurred in China which fell -4.12% YoY to 0.71 USD/KG in the same period, but still higher than Brazil. The lowest price level has enabled Brazil to maintain its market share this year to continue last year's significant profit. Meanwhile, China is hesitating whether to continue importing from Vietnam or looking for alternative suppliers due to the increased rice prices in Vietnam.
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