According to traders, Vietnam’s rice export prices fell last week (15-21 August), the lowest level in the past year and a half because of the new crown limit. Vietnam’s rice quotation with a crushing rate of 5% fell slightly to US $385 per ton from US $390 per ton a week ago, the lowest level since February 2020.
Traders said they were shilly Shally about signing new export contracts because they were not sure whether they could buy rice from farmers during COVID-19′s travel restrictions. He said that high transportation costs also hindered export activities. Earlier this week, Vietnam’s agriculture minister said that if the price of rice fell further, Vietnam would consider reducing the area of rice cultivation to make way for other crops with higher profits.
Source: China Agricultural Information Network
Post time: Aug-25-2021