PebHmong Discussion Forum

General Category => General Discussion => Topic started by: theking on August 15, 2019, 04:42:28 PM

Title: Will the price of rice come down in the U.S.?? Trickle effect??
Post by: theking on August 15, 2019, 04:42:28 PM

Asia Rice: Vietnam struggles to find new buyers as Chinese demand dwindles

(https://s.yimg.com/ny/api/res/1.2/b1_rur9LcncUrCTycvBZmw--~A/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9NDUwO2g9MzAw/https://media.zenfs.com/en-US/reuters.com/dc193650ada7a48512091d65e04fa00b)

Export prices of rice from Vietnam fell this week as the country struggled to find new buyers amid waning demand from China, while a drought continued to squeeze supply in Thailand and a weak rupee weighed on rates for the Indian variety.

Prices for Vietnam's 5% broken rice fell to $335-$345 a tonne on Thursday from $340-$350 last week.

"Vietnam is struggling to find new markets to compensate for the sharp decline in shipments to China," a trader based in Ho Chi Minh City said.

Exports to China in the first seven months of this year fell 65.7% from the corresponding period last year, to 318,100 tonnes, Vietnamese customs data showed.

Title: Re: Will the price of rice come down in the U.S.?? Trickle effect??
Post by: nightrider on August 15, 2019, 05:50:17 PM

It really depends if any businesses here would want to strike a deal with Vietnam. If that happens, we can expect to see the price going down in a way but I doubt that will happen as with any large trading transactions usually entails some sort of agreement or contract.