Rice Prices Fall In Laos Despite Widespread Crop Losses
Source: Vientiane Times
The price of rice dropped at the end of last year in Laos with farmers managing to supply enough rice even after their crops were hit by floods.
The cost of polished sticky rice grades A and B in Vientiane dropped about 6-6.20 percent or from 8,250 kip a kg in October to 7,750 kip for grade A in November and 7,375 kip to 6,918 kip for grade B, according to the Ministry of Industry and Commerce.
While the price of grades A and B polished white rice price decreased about 4-4.30 percent or from the average price of 10,450 kip a kg to 10,000 kip for grade A and 9,375 kip to 9,000 kip for grade B, the cost of Lao Hommari rice declined about 4.21 percent from 10,700 kip to 10,250 kip.
The cost of paddy sticky rice in Luang Namtha province dropped 12.20 percent from 4,100 kip a kg to 3.600 kip a kg and paddy white rice fell 11.36 percent from 4,400 kip to 3,900 kip.
The price of paddy sticky rice grades A and B dropped by 7.7-9.7 percent from 7,750 kip a kg to 7,000 kip for grade A and from 6,500 kip to 6,000 kip.
While the cost of paddy white rice grades A and B dropped 11-14 percent from 10,500 kip a kg to 9,000 kip and 6,750 kip to 6,000 kip, the price of Lao and Thai Hommari rice decreased 12-20 percent from 10,500 kip to 9,250 kip and from 11,500 to 9,250 kip.
The price of paddy white rice in Oudomxay province decreased by 9.09 percent from 3,300 kip a kg to 3,000 kip, the cost of polished white rice grades A and B dropped by 7-7.7 percent from 7,000 kip to 6,500 kip for grade A and 6,500 kip to 6,000 kip and the price of Lao Hommari rice decreased by 10 percent from 10,000 kip to 9,000 kip.
The cost of paddy sticky rice in Saravan province declined by 8 percent from 2,500 kip a kg to 2,300 kip. Grade B paddy sticky rice also fell in price by 9 percent from 5,500 kip to 5,000 kip while the cost of grade A polished sticky rice in Khammuan province fell by 7.7 percent from 6,500 kip a kg to 6,000 kip.
In December the cost of polished sticky rice and polished rice in Luang Namtha, Xieng Khuang and Savannakhet provinces also dropped.
The drop in prices is attributed to the fact that farmers are storing rice for consumption after the west season harvest.