Thailand and Vietnam are prepared to increase rice export prices!
Oops! Vietnam and Thailand are also planning to increase rice export prices!
While rice prices globally have been relatively modest, it is well known that wheat prices have been rising sharply in recent months. However, this situation may change.
The world’s second and third largest rice exporters, Vietnam and Thailand, are also prepared to increase rice export prices. India, the world’s largest rice exporter, recently placed a 20% export tax on rice.
The price of rice exported from Vietnam and Thailand is anticipated to increase by around 20%, and the two nations have decided to cooperate to do so. Due to rising fertiliser and chemical expenses, farmers are no longer able to afford production expenditures.
Additionally, Thailand and Vietnam want to influence other nations that export rice to increase their export prices.