Asian Rice Prices Today: Indian Rice Reaches Highest Level in Over a Year

Rice export prices across major supply hubs in Asia continued to trend upward this week. Indian rice climbed to its highest level in more than a year, supported by a stronger rupee and concerns over new-crop supply, while Vietnamese rice reached its highest level in nearly two months on expectations that demand will recover. In Thailand, rice prices also increased due to additional buying and delays in cargo loading caused by flooding.

Summary:

• India: Prices for 5% broken parboiled rice rose to USD 384–389 per ton, the highest level in more than a year, driven by a stronger rupee and limited domestic supply.
• Vietnam: Prices for 5% broken rice increased to USD 440–450 per ton, the highest since August 21, amid expectations that the Philippines will resume rice purchases from November.
• Thailand: Prices for 5% broken rice rose to USD 480 per ton, the highest since September 10, supported by additional procurement demand and slower cargo loading due to flooding.
• Bangladesh: Rice prices continued to rise as higher fuel costs and paddy prices placed additional financial pressure on consumers.

Rice export prices across major supply hubs in Asia remained elevated this week. Indian rice rose to its highest level in more than a year due to a stronger rupee and concerns over new-crop supply, while Vietnamese rice climbed to its highest level in nearly two months on expectations of improving demand.

In India, 5% broken parboiled rice was offered at USD 384–389 per ton this week, up from USD 378–384 per ton a week earlier. Meanwhile, Indian 5% broken white rice was quoted at USD 385–390 per ton.

An exporter in Mumbai said: “Domestic paddy prices remain high due to limited supply. Output has declined in some states because rainfall was below normal levels.”

In Vietnam, 5% broken rice was offered at USD 440–450 per ton on Thursday, up from USD 420–430 per ton a week earlier. This was the highest level since August 21.

A trader in Ho Chi Minh City said: “We have been informed that the Philippines will resume rice purchases from Vietnam starting in November.”

An official from Vietnam’s Ministry of Agriculture said this week that rice export activity is expected to remain active for the rest of the year. The official also affirmed that Vietnam is on track to meet its rice export target of 8 million tons.

In Thailand, 5% broken rice was offered at USD 480 per ton, up from USD 465–468 per ton the previous week. This was the highest level since September 10.

A rice trader in Bangkok said that the arrival of vessels to collect export cargoes, together with additional buying from some exporters, had pushed prices higher.

According to the trader, flooding has slowed cargo loading operations. At the same time, some exporters have had to purchase additional rice as the off-season paddy harvest approaches its final stage, adding further upward pressure to the market.

However, according to the Thai Rice Exporters Association, Thailand may fail to meet its rice export target of 7 million tons this year due to competition from India and Pakistan, as well as weaker demand from major buyers.

In Bangladesh, rice prices rose over the past week due to higher fuel costs and rising paddy prices. Fine rice increased to 74–75 taka per kilogram, compared with 72 taka per kilogram a week earlier. This development is adding further financial pressure on consumers, who are already facing persistently high living costs.

Exchange rate: USD 1 = 122.4000 Bangladeshi taka.

Source: NPK / Vinagri.News (Reuters)