Rice export prices dropped across Asian hubs as demand waned, while Thai rates touched their lowest since December 2021 and buyers delayed purchases, with some waiting for the impact of market uncertainty linked to tariffs to become clearer.
Thailand’s 5% broken rice fell to $390 per metric ton, down from last week’s $395-$400 range, to mark their lowest in more than three years.
Traders cited weak demand and foreign exchange rate fluctuations as factors subduing prices, while supply was steady.
A Bangkok-based trader said regular customers were only buying what was necessary.
India’s 5% broken parboiled variety was quoted at $388-$394 per ton, the lowest in 22 months, due to rising supplies and sluggish demand. Last week, it was quoted at $392-$400.
Indian 5% broken white rice was priced at $378-$383 per ton.
A Mumbai-based dealer at a global trade house said buyers were delaying in the hope of bigger price falls.
Vietnam’s 5% broken rice was offered at $399 per ton on Thursday, the Vietnam Food Association said, compared with last week’s $405-$410 range.
A trader in Ho Chi Minh City said buyers were waiting for the tariff war trigger by U.S. President Donald Trump to subside because they were concerned about exchange rate fluctuations.
Trump said on Wednesday he would temporarily pause duties he had just imposed on dozens of countries, while increasing tariffs on China.
Vietnam’s domestic supplies have significantly fallen this week as the major harvest is ending, traders said.
The country exported 1.087 million tons of rice in March, down 3.1% from the same month last year, government data released on Sunday showed.
Meanwhile, Bangladesh, the world’s third-largest rice producer, plans to purchase 1.7 million tons of rice from local farmers in the upcoming harvesting season to bolster its reserves as it grapples with rising domestic rice prices.
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