Thai rice prices lowest in 18 years

Illustration photo.

Closing the trading week, Thailand's 5% broken rice was quoted at $335 per tonne on November 13, down slightly from $338 per tonne last week and the lowest since October 2007.

A Bangkok-based trader said buyers were buying in small quantities because of reports that India would release more rice at cheaper prices than Thai rice. He also expressed concern that farmers would lose interest in the crop if prices remained low. The situation is getting worse as supplies in Thailand continue to increase as the rainy season ends.

Meanwhile, in India, 5% broken parboiled rice prices were flat this week at $344-$350 a tonne. Similarly, 5% broken white rice was also stable at $350-$360 a tonne. A dealer in New Delhi said supplies from the new crop were starting to put pressure on domestic rice prices, despite the government’s heavy purchases for stockpiling.

In Vietnam, 5% broken rice prices were unchanged from last week and offered at $415-$430 a tonne. However, a trader in Ho Chi Minh City said trading activity was sluggish due to weak demand, despite lower prices.

According to updates from the Department of Agriculture and Environment of An Giang province and Vietnamese Rice, currently OM 380 export raw rice fluctuates at 7,200 - 7,300 VND/kg; Dai Thom 8 rice fluctuates at 8,700 - 8,900 VND/kg; Soc Det export raw rice fluctuates at 7,600 - 7,800 VND/kg; IR 504 export raw rice fluctuates at 7,600 - 7,700 VND/kg; OM 5451 export raw rice fluctuates at 7,950 - 8,100 VND/kg; CL 555 export raw rice fluctuates at 7,600 - 7,800 VND/kg; OM 18 export raw rice fluctuates at 8,500 - 8,600 VND/kg; IR 504 finished rice fluctuated at 9,500 - 9,700 VND/kg compared to yesterday.

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

In localities today, trading activities are weak, rice prices fluctuate little. In An Giang, trading activities are still slow, warehouses buy sporadically, rice prices are stable.

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