Global Rice News

Prices of rice exported from Thailand experienced an increase this week due to strong demand from Indonesia. Meanwhile, Indian rates remained near a two-month low due to subdued demand. Thailand’s 5% broken rice prices were quoted at $585 to $590 per ton, up from last week’s $570. This increase in prices was driven by demand from Indonesia. Another factor contributing to the price increase was the fact that new supply was still being harvested. Demand from Indonesia remained strong as buyers sourced rice from Thailand, Vietnam, and Pakistan.

On the other hand, India, the top exporter, saw its 5% broken parboiled variety of rice quoted at $540 to $548 per ton, which is low compared to previous prices. Last month, prices hit a record high of $560 after customs officials changed the calculation method for the export duty, resulting in a higher levy. However, demand from Asian and African buyers has slowed in recent days, leading to lower prices. Indian exporters also face a rare tax demand from the customs department, which could adversely affect rice shipments from India.

In Vietnam, the prices of 5% broken rice remained unchanged at $580 per metric ton. However, domestic paddy prices have been slightly increasing as supplies shrink and saltwater intrusion in some Mekong Delta provinces threatens rice production. Despite these challenges, Vietnam’s rice exports in the first quarter of the year rose 17.8% compared to the previous year.

Bangladesh, on the other hand, saw elevated rice prices despite good yields and record reserves. To control prices, the government has allowed private traders to import nearly 100,000 tons of rice.

Overall, the rice market in various countries is influenced by factors such as demand from specific countries, changes in export duties, and supply constraints. It is crucial for rice exporters and suppliers to stay updated on market dynamics to make informed decisions.

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