In Vietnam, according to the Vietnam Food Association, the price of 5% broken rice is quoted at $415-$430 per ton this week, down from $420-$435 the previous week, marking the lowest level since August 21. A trader in An Giang noted that demand remains weak, while the quality of the newly harvested rice is subpar.
Meanwhile, rice prices in India have held steady despite sluggish export demand, as potential storms could reduce yields. In India, 5% broken parboiled rice is quoted at $344-$350 per ton this week, unchanged from the previous week. Indian 5% broken white rice is priced at $350-$360 per ton. A Kolkata-based trader mentioned that the harvest is ready, but heavy rainfall poses a threat to productivity.
In Thailand, 5% broken rice is quoted at $340 per ton, a slight increase from $337 last week, ending a six-week decline and recovering from an 18-year low. A Bangkok trader reported that demand for Thai rice remains stable compared to the previous week. They added that Thailand faces stiff competition from Myanmar and Pakistan, which offer cheaper prices for 5% broken rice, while abundant supply persists due to ongoing harvests across the country.
Separately, Bangladesh has extended the export of fragrant rice by one month until November 30. This extension aims to provide traders with additional time to meet delivery targets amid supply chain and shipping delays. Bangladesh resumed exports of premium rice this year after domestic production exceeded demand. However, the government is closely monitoring the market to ensure exports do not negatively impact local rice prices, especially amid high food inflation.
Vietnam’s Rice Exports Surpass 7 Million Tons
According to the Vietnam Food Association, as of October 15th, rice exports have surpassed 7 million tons.
The Paradox of the World’s Third-Largest Rice Producer: Soaring Prices Despite Record Output and Imports, with Vietnam Purchases Surging by Nearly 26,000%
The Asian government has significantly reduced rice import tariffs to nearly 0% for the current fiscal year.
Southeast Asian Nation’s Woes as Vietnam’s Rice Staple Soars: Citizens Stunned by Skyrocketing Prices, High-Quality Supply Dwindles
Despite a surge in production and substantial reserves, rice prices are soaring to unprecedented highs across the nation.
Unlocking the ‘Masterplan’ to Tackle the Slump in Mekong Delta’s Rice Prices: Decoding the ‘Big Spenders’ Twist and the Remaining 3 Turns of Events
If the rice industry in the Mekong Delta were a blockbuster movie, it would undoubtedly be at its most thrilling moment with a title like “The Unexpected Crisis”.
Vietnam Rice Prices Hit Eight-Month High
According to the Vietnam Food Association, 5% broken rice was offered at a price of $455-$460 per ton on August 28th, the highest it has been since the beginning of this year.
