Asia rice: Vietnam, Thai rice prices hit near two-year highs as India slips
- Vietnam’s 5% broken rice was offered at $480 to $490 per metric ton
Rice export prices in Vietnam and Thailand climbed to their highest levels in nearly two years this week on concerns over supply disruptions and strong demand, while Indian prices eased as new-season arrivals improved supply.
Vietnam’s 5% broken rice was offered at $480 to $490 per metric ton, up from $470 to $480 a week ago and the highest level since December 2024.
Traders said the Philippines has resumed rice purchases from Vietnam, giving a boost to prices.
“However, the Philippines is only buying 25% and 100% broken rice,” a trader based in Ho Chi Minh City said, adding that most of the 5% broken rice is now going to Africa.
Vietnam’s rice exports in October rose 37.2% from a year earlier to 475,000 tons, raising total shipments in the January to October period to 6.83 million tons, according to government statistics.
Thailand’s 5% broken rice rose to $490 to $495 per ton, marking its highest level since January 2025 and up from $480 quoted last week, due to foreign demand and a decline in supply in some areas.
“There was demand coming from the Philippines with buyers purchasing from many exporters,” a trader said. On supply, some rice growing areas faced flooding which led to a drop in production, the trader said.
Concerns over El Nino and the limited availability of the next crop until next year continued to support prices, another trader said.
Meanwhile, India’s 5% broken parboiled variety was quoted at $382 to $386 per ton this week, reaching the lowest level since October 8 and down from last week’s $387 to $392. Indian 5% broken white rice was priced at $389 to $393 per ton.
New-season paddy arrivals have started to pick up in northern states, helping meet strong export demand from West African countries, said a Kolkata-based exporter.
In Bangladesh, rice prices remained elevated despite adequate market supply, with traders attributing the high prices to rising production and transportation costs following increases in fuel prices.