Rice price dips in the provinces
Rice price dips in the provinces
The price of rice around the country has fallen in recent weeks as the provinces have sufficient rice to supply demand while the price in Vientiane markets remains unchanged.
The cost of paddy sticky rice in Vientiane province dropped from 2,500 kip to 2,400 kip per kg, while paddy white rice fell from 3,100 kip to 2,900 kip per kg, Grade A polished white rice declined from 8,000 kip to 7,500 kip per kg, and Grade B polished white rice fell from 7,500 kip to 7,000 kip per kg.
The recent figures were compiled by the Domestic Trade Department of the Ministry of Industry and Commerce.
Meanwhile the rice price in Luang Namtha province has fallen from 3,500 kip to 3,400 kip per kg for paddy sticky rice, 4,500 kip to 4,000 kip per kg for paddy white rice, and from 7,000 to 6,500 kip per kg for Grade A polished sticky polished rice.
In Huaphan, prices decreased from 3,500 kip to 3,000 kip per kg for paddy white rice and in Saravan prices declined from 2,100 kip to 2,000 kip per kg for paddy sticky rice.
The prices in these provinces dropped because local markets had enough rice to meet consumer demand.
However, the cost of rice in Vientiane is still stable at almost 3,400 kip per kg for paddy sticky rice and 4,000 kip for paddy white rice, while polished sticky rice Grade A is selling for 8,500 kip and Grade B for 7,500 kip. Polished white rice Grade A is selling for 10,000 kip per kg and Grade B for 8,750 kip.
Last year, the government was able to encourage farmers to grow rice in both seasons reaching about 98 percent of the target or 4.1 million tones, but only a few hundred thousand tonnes were exported to neighbouring countries.
Laos required only 2.5 million tonnes of rice for food securi ty among local farmers, while the rest was processed for domestic sale and also for export.
However, large quantities of rice cannot be exported as its quality does not meet with the demands of importing countries.
Some Lao rice varieties are better quality than those in nei ghbouring countries and should be grown commercially, according to the Ministry of Agriculture and Forestry.
To promote rice for food security and commercial sale, the government is taking steps to develop various agricultural products in the face of regional competition and international integration.
In 2012, the paddy rice price averaged 1,000-1,500 kip per kg, which rose to 2,000-2,500 kip per kg and 6,000-6,500 kip per kg for polished rice in 2013.
