Bloomberg, the price of rice in Vietnam, Thailand, and India is less shocking, which is good news

Published 2021년 5월 8일

Tridge summary

Despite the price increases in agricultural commodities such as corn, soybeans, and wheat, rice prices have remained relatively stable, with a slight increase over last year. This stability is due to rice being primarily grown for human consumption and abundant supplies from the new harvest in major exporting countries like Vietnam, Thailand, and India. This stability is crucial in preventing food inflation, especially given the highest global food prices since 2014 and warnings from organizations like the World Bank and the United Nations about food security risks. The difference in price trends between rice and other crops is attributed to various factors, including China's demand for swine feed and favorable weather conditions, which have affected grain and oilseed supplies. However, concerns have been raised about the potential impact of rising corn and soybean prices on meat prices and overall nutrition, particularly for the poor. In contrast, rice, being a staple food for over 3 billion people, especially in Asia, remains relatively affordable, thanks to ample supplies and the ability of major producers like India to export at low prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Rice price is stable compared to the general level Rice is the main source of daily nutrition for more than 3 billion people, but so far rice prices have not increased as much as other agricultural commodities such as corn, soybeans and meat. Currently, the rice price is higher than the level set a year ago. However, in recent months, rice prices in top rice export markets including Vietnam, Thailand and India have decreased somewhat due to abundant supplies following the new harvest. According to Bloomberg, one reason for the diverging trend in the agricultural market is that rice is mainly grown for human consumption, while other crops are to meet the growing demand for animal feed. . Furthermore, China's huge demand for swine feed, coupled with unfavorable weather, is costing the world's supply of grain and oilseeds, so corn and soybean prices could peaked over 8 years. Wheat, mainly used to produce bread, pasta, pasta, cereal bars and biscuits, also surged as countries began ...

Source: Vietnambiz