Thai rice prices jump to their highest level in nearly four months

VTV.vn - In Asia, Thai rice prices jumped to their highest level in nearly four months due to concerns about supplies being affected by floods.

Illustration photo.

Thai rice prices have seen a jump this week, with 5% broken rice being offered at $370 a tonne, up $30 from last week and the highest since July 31.

A Bangkok-based trader said the main reason was flood damage in some production areas. Thai rice also received support from news of rice sales to China and a stronger baht.

In contrast to Thailand, Indian rice prices fell on weak demand and the rupee traded near record lows. The country’s 5% broken parboiled rice was quoted at $348-$356 a tonne, down from $352-$360 last week. The country’s 5% broken white rice prices also fell to $345-$350 a tonne from $350-$355 last week.

A Mumbai-based exporter said the rice market is very competitive. A weaker rupee is allowing Indian exporters to lower their prices to attract buyers.

In Vietnam, 5% broken rice prices edged up to $359-$363 a tonne, recovering after hitting a five-year low last week.

A trader in Ho Chi Minh City said that due to weak demand from traditional Asian markets, some exporters have started to shift to African markets such as Ghana and Ivory Coast. He also noted that if the export situation to the Philippines continues to be bleak, farmers may have to consider switching to other rice varieties.

Source: https://vtv.vn/gia-gao-thai-lan-bat-tang-len-muc-cao-nhat-trong-gan-bon-thang-100251130092733535.htm