Vietnamese rice export prices declined by as much as $59 per metric ton (MT) since December due to tepid demand in the Philippines, according to the United States Department of Agriculture (USDA).
Vietnamese rice export prices declined by as much as $59 per metric ton since December due to tepid demand in the Philippines, according to the United States Department of Agriculture .
Aside from these countries, the USDA also noted declines in rice prices such as in India, the United States, and Uruguay. “US prices dropped $5 to $727/ton and Uruguayan quotes fell $8 to $700/ton on weaker sales to Latin America.” “Global trade is forecast down based on reduced import demand for Indonesia and Bangladesh, balanced with lower exports from Vietnam and Thailand,” the USDA said.
It added that global consumption and stocks are forecast lower based on downward revisions for China. The fastest decline in regular milled rice was recorded in Soccsksargen where the quotation of the staple fell by 9.8 percent to P41.87 per kilogram, from P46.41 per kg in the previous year.
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