World price of rice drops

Thai rice exporters association, one of the major rice exporters in the world, has announced a further decline in their export price.

The association has reduced the export price of rice from US$400 (equivalent to D17,000) to about US$320 (equivalent to D14,000) per tonne for 100% broken rice, which is commonly consumed in The Gambia and the sub-region.

Vietnam Food Association, another major rice exporter, has also announced the lower floor export price of $330 per tonne, for 25% broken rice.

India and Pakistan are also offering rice at relatively low prices.

Meanwhile, as the export price decreases, the rice price in The Gambia remains high and continues to hike.