Asia rice: Indian rice prices firm, Vietnam rates climb to near two-year highs

Indian rice export prices remained steady this week near their highest level in more than a year, while Vietnam prices climbed to their highest since January 2025 on concerns that supply disruptions could leave exporters struggling to meet new demand.

Vietnam’s 5% broken rice was offered at $470-$480 per metric ton on Thursday, up from $440-$450 a week ago.

“Domestic supplies are thin,” a trader based in Ho Chi Minh City said.

The autumn-winter harvest won’t begin until the end of November, with output forecast to be only half of that of the summer-autumn harvest, traders said.

Traders said the El Nino phenomenon will likely affect rice production from next year.

“I think prices will rise further from next month when the Philippines is expected to resume rice purchases from Vietnam,” the first trader said.

India’s 5% broken parboiled variety was quoted at $387-$392 per ton this week, unchanged from last week. Indian 5% broken white rice was priced at $389 to $394 per ton.

New-season paddy arrivals have begun to increase in northern states, with supplies expected to rise in central and southern states from next month, said a Kolkata-based exporter.

Thailand’s 5% broken rice was quoted at $480 per ton this week, unchanged from last week.

Prices held firm largely due to the exchange rate and strong domestic prices, traders said.

There has been some demand for Thai rice from the Philippines and other regular buyers but other markets like Africa have opted for the cheaper variety from India, a Bangkok-based trader said.

Flooding in some regions has also raised uncertainty over supply as harvesting is currently underway, another trader said.

Domestic rice prices remained elevated in Bangladesh despite ample stocks, while rising oil prices increased production and transportation costs, adding to the burden on consumers.