Indian rice hits nearly 2-year low, Vietnam's rice exports start to increase slightly

Indian rice prices fell to their lowest since June 2023 this week due to weak demand and ample supplies, while Thai rice prices remained steady at a more than two-year low and Vietnamese rice prices edged up slightly from last week.

Indian rice hits lowest since June 2023

India's 5% broken rice is currently offered at $395-$401 a tonne, down from $403-$410 a tonne last week.

Buyers are placing orders at a slower pace, with some even delaying purchases as prices remain on a downward trend, a trader in New Delhi said.

Since early March, the Indian Government has allowed the resumption of 100% broken rice exports after imposing a ban from September 2022.

Meanwhile, Thai rice prices remained stable at a more than two-year low. Specifically, in Thailand, 5% broken rice was sold at $405 per ton, the same as last week. Traders said that this week's rice prices were unchanged due to weak demand and the impact of the exchange rate.

A Bangkok-based trader said the market was quiet, and he said stiff competition from Indian and Vietnamese rice could make it difficult for Thai rice exporters in 2025.

The Bangladesh government is planning to lift the ban on aromatic rice exports, in a bid to boost trade.

Bangladesh - the world's third-largest rice producer - mainly consumes domestically, but the new move could help the country increase its exports, officials said.

Vietnam's rice export prices have begun to increase slightly.

According to records, from the end of 2024 to the end of February 2025, domestic rice prices and export rice prices continuously decreased sharply. However, by the first half of March 2025, Vietnam's export rice prices began to increase slightly, while other countries continued to decrease.

The Vietnam Food Association said 5% broken rice was being offered at $400 a tonne, up from $394 last week. A trader in the Mekong Delta predicted prices could remain at this level for the next few sessions amid ample supplies.

In the domestic market, rice prices today (March 30) in the Mekong Delta region are stable. Specifically, according to the update from the Department of Agriculture and Environment of An Giang province, there are no fluctuations in both fresh rice and rice.

According to the update from the Department of Agriculture and Environment of An Giang province, the current price of Dai Thom 8 rice (fresh) fluctuates at 6,600 - 6,700 VND/kg; the price of OM 18 rice (fresh) fluctuates at 6,600 - 6,700 VND/kg; the price of OM 5451 rice (fresh) fluctuates at 5,800 - 5,900 VND/kg; the price of IR 50404 rice (fresh) fluctuates at 5,600 - 5,700 VND/kg; OM 380 rice (fresh) fluctuates at 5,500 - 5,800 VND/kg; and Nang Hoa 9 rice is at 6,300 - 6,500 VND/kg.

In many localities today, sources are low and trading is still slow. In Dong Thap, farmers offer stable prices for fragrant rice, trading is quiet, and prices fluctuate little. In Long An, new rice transactions are low, and prices of all types of rice remain stable.

Regarding rice, domestic rice prices were relatively stable during the week. For some exported rice, prices increased sharply in the middle of the week, then remained stable and stabilized at the end of the week, with a total increase of 12 USD/ton.

According to the update from the Department of Agriculture and Environment of An Giang province, currently, raw rice IR 504 fluctuates at 7,700 - 7,800 VND/kg; raw rice OM 380 fluctuates at 7,500 - 7,600 VND/kg; raw rice 5451 fluctuates at 8,600 - 8,750 VND/kg; finished rice OM 380 fluctuates at 8,800 - 9,000 VND/kg; finished rice IR 504 fluctuates at 9,500 - 9,700 VND/kg.

As for by-products, the price of by-products ranges from 6,600 - 9,000 VND/kg. Currently, broken rice 3-4 ranges from 6,600 - 6,700 VND/kg; bran price ranges from 8,000 - 9,000 VND/kg.

Source: https://baodaknong.vn/gao-an-do-cham-day-gan-2-nam-gao-xuat-khau-viet-nam-da-bat-dau-tang-nhe-247754.html