India’s rice export prices have edged up from a nine-year low, signaling early signs of recovery. Meanwhile, Thai rice rates continue to slide, hitting an 18-year low due to weak global demand. Traders cite cautious buying and oversupply as key factors shaping the region’s rice trade dynamics this week.
Asia’s rice market is witnessing a split trajectory as India and Thailand—the region’s top exporters—grapple with contrasting price movements. While Indian rice prices show modest recovery, Thai rates continue their downward spiral, reflecting subdued demand and oversupply pressures.
Key Highlights:
Notable Update from India:
India’s 5% broken parboiled rice was quoted at $340–$345 per tonne, slightly up from last week’s levels and rebounding from a nine-year low. Traders attribute the uptick to marginal improvements in export inquiries.
Major Takeaway from Thailand:
Thai 5% broken rice dropped to $335–$340 per tonne, its lowest since October 2007. This marks the fifth consecutive weekly decline, driven by flat demand and lack of major export deals.
Market Sentiment:
Buyers remain cautious, purchasing only essential volumes. A Bangkok-based trader noted, “Customers are only buying what is necessary,” while another cited ample supply as a key factor.
Regional Outlook:
The divergence in pricing reflects broader uncertainties in global food trade, with currency fluctuations and geopolitical tensions adding complexity to export strategies.
Sources: Reuters via MillingandMillers.com, Commodity Board Market Report, Mordor Intelligence Asia-Pacific Rice Market Outlook