Firm Indonesian Demand Boosts Thai Rice Rates in Asia
Published on: April 14, 2024.
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Prices of rice exported from Thailand have increased this week due to strong demand from Indonesia. Thailand’s 5% broken rice prices are now quoted at $585 to $590 per ton, up from last week’s $570. The rise in prices is attributed to the demand from Indonesia, where buyers are sourcing rice from Thailand, Vietnam, and Pakistan. Meanwhile, Indian rates remain near a two-month low, with India’s 5% broken parboiled rice quoted at $540-$548 per ton. However, Indian exporters are facing a rare tax demand from the customs department, which could potentially impact rice shipments from India.
In Vietnam, 5% broken rice prices remain unchanged at $580 per metric ton. Domestic paddy prices in Vietnam are slightly increasing due to shrinking supplies and the threat to rice production caused by saltwater intrusion in some Mekong Delta provinces. Vietnam’s rice exports in the first quarter have risen by 17.8% compared to the previous year.
In Bangladesh, rice prices remain elevated despite good yields and record reserves. To control prices, the government has allowed private traders to import nearly 100,000 tonnes of rice.
Overall, the increase in rice prices in Thailand, along with the challenges faced by Indian exporters and the situation in Vietnam and Bangladesh, reflect the dynamics of the global rice market.
Source: **[BRecorder](https://www.brecorder.com)**
