Rice export prices in India remained near their lowest point in over a year, despite a slight increase in demand, while Thailand saw a rise in rates due to consistent demand from key customers.
India, the world’s top rice exporter, quoted its 5% broken parboiled variety at $490-$495 per ton this week, unchanged from the previous week when it reached its lowest level since August 24, 2023. Similarly, the country’s 5% broken white rice variety was priced in the same range.
A Kolkata-based exporter noted that buyers are becoming more comfortable with the stabilized prices, following a significant drop after India reduced its export duty last month. The Indian government cut export duty on parboiled rice to 10% and set a minimum export price of $490 per metric ton for non-basmati white rice.
In contrast, Thailand’s 5% broken rice rose to $525 per ton, up from $510 last week, driven by domestic demand and steady international orders, particularly from Indonesia and the Philippines, according to a Bangkok-based trader.
Vietnam’s 5% broken rice was offered at $537 per ton, slightly lower than last week’s $538, marking its lowest price since July 2023. A trader in Ho Chi Minh City said domestic supplies are running low, and India’s easing of export restrictions has had a limited impact on Vietnamese rice.
Meanwhile, rice prices in Bangladesh increased this week, as the country grapples with severe flooding that has displaced over 100,000 people.
