Indian rice prices steady, Vietnam prices reach highest since January 2025

Vietnam's 5% broken rice prices climbed to $470-$480 per metric ton this week, marking the highest level since January 2025. This increase follows concerns over potential supply disruptions that could hinder exporters' ability to meet rising demand.

A trader based in Ho Chi Minh City noted that domestic supplies are currently thin, with the autumn-winter harvest not expected to begin until late November. Output for this season is projected to be only half of that from the summer-autumn harvest, according to traders.

The El Nino phenomenon is expected to impact rice production in Vietnam next year, according to traders. One trader predicted that prices may rise further next month as the Philippines is anticipated to resume rice purchases from Vietnam.

India's 5% broken parboiled rice remained at $387-$392 per ton, while 5% broken white rice was priced at $389 to $394 per ton. New-season paddy arrivals have started to increase in northern states, with supplies expected to rise in central and southern states from next month, according to a Kolkata-based exporter.

Thailand's 5% broken rice was quoted at $480 per ton, unchanged from last week. Prices held firm largely due to the exchange rate and strong domestic prices, traders said.

While the Philippines and other regular buyers have shown some interest in Thai rice, other markets like Africa have opted for the cheaper variety from India. Flooding in some regions has also raised uncertainty over supply as harvesting is currently underway, another trader added.

Domestic rice prices in Bangladesh remained high despite ample stocks, with rising oil prices increasing production and transportation costs, further burdening consumers.