The prices of Vietnam’s 🇻🇳 exported rice (the world’s third-largest exporter after India and Thailand) remain the highest in the

The prices of Vietnam’s 🇻🇳 exported rice (the world’s third-largest exporter after India and Thailand) remain the highest in the world, with 5% broken rice reaching US$638 per tonne, following India’s 🇮🇳 recent ban on its largest rice export category (non-basmati white rice). At the Mekong Delta known as Vietnam’s rice bowl, where 90% of the nation’s rice exports are grown, farmers said they can barely keep up with the demand. Last month, India has imposed a 20% duty on exports of parboiled rice with immediate effect. Rice prices in key exporting countries have climbed around 20% since India’s export ban. They have made an exemption for friendly countries, with export quotas of non-basmati white rice to Bhutan 🇧🇹, Mauritius 🇲🇺and Singapore 🇸🇬. Rice prices soared to the highest in almost 15 years in Asia on mounting concerns over global supplies as dry weather (drier conditions with the onset of El Nino) threatens production in Thailand. Last week, the Philippines 🇵🇭 (world’s second-largest rice importer) imposed a price cap on retail rice due to soaring food inflation. Indonesia is looking to import rice from Cambodia 🇰🇭 and Myanmar 🇲🇲 to top up gov’t stocks. Myanmar plans to temporarily restrict rice exports to control rising domestic prices. In July, The UAE banned rice exports and re-exports for four months. Earlier this year, Thailand 🇹🇭 saw strong demand & a strengthening Thai currency has also helped to push up dollar-denominated rice prices. In September 2022, India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice. This came after planting areas of the crop declined by 13% due to heatwaves and drought. China 🇨🇳 is virtually self-sufficient in rice. Imports of rice only account for 3% of the nation’s total demand. Video source - CNA Источник: The Paradigm Shift Channel ⏳