Asia rice: Indian rates edge lower amid rupee depreciation, subtle demand

BENGALURU, BANGKOK, MUMBAI, HANOI AND DHAKA: Prices of rice exported from India edged lower this week due to currency depreciation and muted demand, while Vietnamese rates remained steady amid demand uncertainty.

India’s 5percent broken parboiled variety was quoted this week at USD351-USD356 per ton, down from last week’s USD353-USD358 range. Indian 5percent broken white rice was priced at USD348 to USD353 per ton this week.

“The falling rupee is putting downward pressure on prices, but buyers remain reluctant to place large orders,” said a Kolkata-based exporter.

Global rice prices are expected to remain under pressure in 2026, as major producers, including India, Thailand and Vietnam, compete to ship surplus supplies, prompting buyers to delay purchases, trade and industry officials said earlier this month.

Vietnam’s 5percent broken rice was offered at USD360-USD365 per metric ton, unchanged from a week ago, according to traders. “Trading activity is picking up, but we are not certain if demand remains steady for the rest of the year,” a Ho Chi Minh City-based trader said. Government customs data showed Vietnam’s rice shipments in the first half of January rose 64percent from a year earlier to 318,212 tons.

State media on Wednesday cited the agriculture ministry as saying that Vietnam will allocate 7.73 million tons of rice for exports this year. Thailand’s 5percent broken rice was quoted at USD380 per tonne versus USD370-USD375 quoted last week.

The price is considered low after India announced lower prices than Thailand, said a Bangkok-based trader. India’s cheaper offers could cap Thai export rates.

Buyers from the Philippines were still buying just what was needed and the market was quiet, the trader said. Supply should be robust because every country should have good production, the trader added. Elsewhere, Bangladesh has allowed private traders to import 200,000 metric tons of parboiled rice to prevent any price shocks, alongside government-level rice procurement.