Vietnam rice rates up on El Nino fears; buyers opt for cheaper Indian grain

HANOI: Vietnamese rice export prices edged higher this week amid concerns about possible crop impact from El Nino weather phenomenon, while elevated Thai rates prompted buyers to shift to less expensive Indian varieties.

Vietnam’s 5% broken rice was offered at $410-$415 per metric ton on Thursday, compared with $405-$415 a week earlier.

“Concerns about the possible impact of El Nino on rice production might prompt buyers to increase their rice stockpiling,” a trader based in Ho Chi Minh City said.

Vietnam’s rice exports in the first half of 2026 are estimated at 5 million metric tons, up 5.7% from a year earlier, state media said citing the agriculture ministry.

Thailand’s 5% broken rice was quoted at $480-$500 per metric ton, up from last week’s $460-$480, a trader in Bangkok said.

Demand from Africa has dropped 30% due to high Thai rice prices, with buyers shifting to Indian rice, according to a Bangkok-based trader.

“As for supply, we have to see how the new crop comes out around July and August,” the trader said, adding that there were concerns about a super El Nino.