Philippines imports record amounts, prices of Vietnamese rice rise sharply

VINAGRI News - Global and Vietnamese rice prices have risen collectively, with fragrant rice increasing by $15 compared to the beginning of April. The reason stems from the Philippines, Vietnam's largest rice buyer, which has increased imports by 37%. This week, global rice prices have started to rise collectively. According to the Vietnam Food Association (VFA), the price of 5% broken rice from Thailand and India increased by $1 to $340 per ton. Meanwhile, Vietnamese rice prices increased commonly by $3 to $15; 100% broken rice increased by $3 to $337 per ton, Jasmine rice increased by $5 to $456 per ton, and 5% broken fragrant rice increased by $15 to $445 per ton. Vietnamese rice prices have skyrocketed as the Philippine market increases purchases. Enterprises explain that global rice prices have risen collectively due to increased consumer demand, rising domestic and international shipping costs, and weather forecasts about the upcoming El Nino, which has increased the demand ...