Thailand’s rice export prices dip to 14-month low
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Thai rice export prices fell to a 14-month low this week due to weak demand and competition from other rice exporting countries.
Thai 5% broken rice was priced at US$560 per ton, the lowest level since July 20, 2023 and down from $565 last week.
A Bangkok-based trader said on Thursday that prices could fall further if the Thai baht depreciates. Another trader said the market was waiting to see changes in Indian rice policy in the coming months and that supply was in the harvesting stages.
Meanwhile, Vietnamese 5% broken rice was exported at $565 per ton on Thursday, according to the Vietnam Food Association, also down from around $580 last week.
“Prices fell on competition from other suppliers such as Thailand, Cambodia and Myanmar,” a trader based in Ho Chi Minh City said.
Questions & Answers
Q.What is the current price of Thai 5% broken rice?
What is the current price of Thai 5% broken rice?
Thai 5% broken rice is currently priced at US$560 per ton. This represents its lowest level since July 20, 2023, having fallen from $565 last week due to weak demand and competition.
Q.What factors are contributing to the decline in Thai rice export prices?
What factors are contributing to the decline in Thai rice export prices?
Weak demand and increased competition from other rice-exporting countries are contributing to the price dip. Prices could fall further if the Thai baht depreciates against other currencies.
Q.How do Vietnamese rice export prices compare to Thai prices this week?
How do Vietnamese rice export prices compare to Thai prices this week?
Vietnamese 5% broken rice was exported at $565 per ton this Thursday. This is slightly higher than Thai prices, but also a reduction from its previous price of around $580 last week.
Q.What might cause further changes in the rice market prices in the near future?
What might cause further changes in the rice market prices in the near future?
The market is anticipating potential changes in Indian rice policy in the coming months. Also, supply is currently in the harvesting stages, which could also influence future prices.
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