Rice prices can increase sharply, leading exporting countries like Vietnam take advantage of the opportunity to develop export markets
Rice
Vietnam
Published Jun 14, 2022
Tridge summary
The prices of many foods, from wheat and other grains to meat and oil, have skyrocketed. This has been driven by a range of factors, including rising fertilizer and energy costs over the past year as well as the crises in Russia and Ukraine. Food export bans and severe supply disruptions from some countries such as India (wheat export ban), Ukraine (wheat, oats, sugar…) and Indonesia (palm oil) fueled the price rally. further promoted.
Original content
Rice could become the next factor. The Food and Agriculture Organization of the United Nations' Food and Agriculture Organization (FAO) Food Price Index showed international rice prices rising for a fifth straight month, hitting a 12-month high, according to the latest May data released last week. To be sure, rice production remains plentiful, experts say. But rising wheat prices, and generally higher farming costs, will keep rice prices on the watch list. Sonal Varma, chief economist at Japanese bank Nomura, said: "We need to keep an eye on rice prices going forward, as rising wheat prices could lead to a demand for substitution by other products such as rice, increase demand and reduce existing reserves. More crisis than before the pandemic The United Nations Food Price Index shows that global food prices are now 75% above their pre-pandemic levels, according to Frederique Carrier, chief strategist at RBC Wealth Management. "The shortage of workers due to the pandemic and the ...
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