Thai rice prices hit a 18-year low.

Illustrative image.

Closing out the trading week, Thai 5% broken rice was quoted at $335/ton on November 13th, a slight decrease from the previous week's $338/ton and the lowest level since October 2007.

A Bangkok-based trader said that customers are only buying in small quantities due to rumors that India will release more rice at a cheaper price than Thai rice. He also expressed concern that farmers will lose interest in growing rice if prices remain as low as they are now. The situation is further complicated by the increasing supply in Thailand as the rainy season draws to a close.

Meanwhile in India, the price of parboiled rice with 5% broken grains remained stable this week at $344-350 per ton. Similarly, white rice with 5% broken grains also remained stable at $350-360 per ton. A dealer in New Delhi said that supply from the new crop is starting to put pressure on domestic rice prices, despite the government's aggressive rice purchases for reserves.

In Vietnam, the price of 5% broken rice remained unchanged from last week, being offered at $415-430 per ton. However, a trader in Ho Chi Minh City commented that trading activity is very sluggish due to weak demand, despite lower asking prices.

According to updates from the Department of Agriculture and Environment of An Giang province and Vietnam Rice, the current price of raw export rice is as follows: OM 380 rice ranges from 7,200 - 7,300 VND/kg; Dai Thom 8 rice ranges from 8,700 - 8,900 VND/kg; Soc Deo rice ranges from 7,600 - 7,800 VND/kg; IR 504 rice ranges from 7,600 - 7,700 VND/kg; OM 5451 rice ranges from 7,950 - 8,100 VND/kg; CL 555 rice ranges from 7,600 - 7,800 VND/kg; and OM 18 rice ranges from 8,500 - 8,600 VND/kg. Finished IR 504 rice prices fluctuated between 9,500 and 9,700 VND/kg compared to yesterday.

Regarding by-products, prices range from approximately 7,300 to 10,000 VND/kg. Currently, OM 5451 broken rice has increased by 100 VND/kg, fluctuating between 7,350 and 7,500 VND/kg; the price of rice bran fluctuates between 9,000 and 10,000 VND/kg compared to yesterday.

Observations in various localities today show weak trading activity and little fluctuation in rice prices. In An Giang, trading remains slow, warehouses are buying sporadically, and rice prices are stable.

Source: https://vtv.vn/gia-gao-thai-lan-thap-nhat-18-nam-10025111520383215.htm