Asia rice: Indian rupee gains prop up Indian rates as Thai and Vietnam prices slip

Prices of rice exported from India climbed to a one-month high this week as traders raised prices to adjust for the appreciation in rupee, while Thai and Vietnam rates edged lower on expectations of reduced demand and domestic currency fluctuations.

The Indian rupee hit a record low against the dollar last week, but recovered sharply this week, reducing traders’ rupee returns from overseas sales.

India’s 5% broken parboiled variety was quoted at $350-$357 per metric ton, up from the last week’s $348-$356. Prices were at their highest since November 20.

Indian 5% broken white rice was priced at $347 to $352 per ton this week.

Thailand’s 5% broken rice was quoted at $410 per ton, down from $415 quoted last week.

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While one Kolkata-based exporter, who asked not to be named, said the currency fluctuations meant Indian export prices would have to be raised, traders attributed a price drop in Thailand to the strengthening of the Thai baht.

Supplies are steady and demand is relatively flat towards the end of the year, a Bangkok-based trader said, with some exporters aiming to strike deals in markets such as the Philippines at the beginning of 2026.

Prices also fell in Vietnam.

Vietnam’s 5% broken rice was offered at $360-$365 per metric ton on Wednesday, down from $370-$375 a week ago, according to traders. Prices were at their lowest since November 27.

Indonesia’s president has announced a ban on rice imports, citing the country’s ample supplies.

Traders, however, said that the impact from Indonesia’s action would be limited as Vietnam’s rice shipments to Indonesia have already been insignificant this year.

Bangladesh, meanwhile, has approved the import of 50,000 tons of white rice from Pakistan under a government-to-government deal as part of efforts to stabilise domestic prices, officials said on Tuesday.