Rupee gains prop up Indian rice rates as Thai, Vietnam prices slip

BENGALURU, BANGKOK, MUMBAI, HANOI AND DHAKA: 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 5percent broken parboiled variety was quoted at USD350-USD357 per metric ton, up from the last week’s USD348-USD356. Prices were at their highest since November 20. Indian 5percent broken white rice was priced at USD347 to USD352 per ton this week.

Thailand’s 5percent broken rice was quoted at USD410 per ton, down from USD415 quoted last week. 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 5percent broken rice was offered at USD360-USD365 per metric ton on Wednesday, down from USD370-USD375 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.