Global Rice News

Prices of parboiled rice exported from India have reached their highest levels in over two months due to increased rates in other markets and limited supplies. This increase comes as traders in Vietnam and Thailand are experiencing improved demand. The 5% broken parboiled variety is currently priced at $510-$517 per metric ton, surpassing last week’s range of $508-$515.

Despite export restrictions, local paddy prices in India remain strong. Lower production has led to a moderation in supplies, contributing to the increase in prices. State-run agencies have procured 46.39 million tons of paddy so far this year, lower than the previous year’s total of 53.40 million tons.

Meanwhile, Thailand’s 5% broken rice prices have decreased slightly to $650 per metric ton, down from last week’s range of $655-$660. Prior to this decrease, prices in Thailand had reached their highest levels since 2008. A Bangkok-based trader stated that while there is some demand from Indonesia and the Philippines, fresh supplies are not expected until the next harvest.

In Vietnam, the price of 5% broken rice remains unchanged at $653 per metric ton. Supplies in Vietnam are currently low, and it is anticipated that demand for Vietnamese rice will be strong this year, particularly from the Philippines and China. Vietnam’s rice exports in 2023 are projected to increase by 17.4% compared to the previous year, reaching a record high of 8.34 million metric tons.

In the first ten days of January, preliminary shipping data shows that 44,150 tons of rice were loaded at Ho Chi Minh City port, with the majority of it bound for the Philippines.

Overall, the prices of parboiled rice in India have risen due to factors such as increased rates in other markets and limited supplies. The demand for rice from Vietnam and Thailand is expected to remain strong, particularly from countries like the Philippines and China.

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