How much will rice prices fall in Vietnam as India boosts exports again?

Published 2024년 10월 11일

Tridge summary

India has relaxed its export restrictions, potentially increasing competition for Vietnamese rice in the global market. This comes as Vietnam faces challenges in rice production due to natural disasters and India's status as the world's largest rice exporter. However, high demand from traditional markets like Indonesia and the Philippines may support Vietnamese rice prices. In Indonesia, the government is planning to import 450,000 tons of rice due to a decrease in domestic rice output. The Philippines also intends to increase its rice imports next year. Despite the pressure from increased Indian supply, the price of Vietnamese rice is expected to remain stable, with efforts being made in Vietnam to build a value chain in the rice industry and develop branding strategies for ecological and low emission rice.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

However, India has recently loosened its export restrictions, raising concerns that Vietnamese rice will have to compete more fiercely in the context of falling prices and lower domestic supply. Vietnamese rice faces difficulties as India boosts exports Storm Yagi is a historic storm with terrifying power when it made landfall in the North of our country. According to statistics from the Ministry of Agriculture and Rural Development, many areas of rice and crops were affected. This storm caused over 190.300 hectares of rice to be flooded, with damage concentrated in the cities. Thai Binh, Ha Noi, Hai Duong , and Hung YenAlthough these are not the main rice granaries of our country, however, serious damage in these areas will also significantly impact the country's rice production. In this situation, domestic rice prices are expected to increase in the context of limited supply. History also shows that during periods when our country's rice cultivation activities are affected by ...
Source: WTOCenter

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