Rice export prices across Asia have slid to near two-year lows this week, driven by a weakening Indian rupee, rising supplies, and subdued global demand.
India, the world’s largest rice exporter, saw its 5% broken parboiled variety quoted at $382–$389 per ton, down from last week’s $384–$391. The 5% broken white rice also declined slightly to $375–$381 per ton. A trader based in New Delhi noted, “Export prices are coming down because of the falling rupee. Demand is still subdued.”
Despite global rice prices hitting multi-year lows, industry insiders believe they are unlikely to fall much further. However, bulging Indian stockpiles and a strong Asian harvest are expected to cap any significant rebound in prices through the remainder of the year.
Elsewhere in Asia, rice prices also reflected softness:
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Thailand’s 5% broken rice dropped to $405–$410 per ton, down from $410 last week. Traders attributed this mainly to exchange rate movements rather than a shift in demand. “Indonesia and the Philippines, which used to buy a lot, have enough production this year,” said a Bangkok-based trader.
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Vietnam’s 5% broken rice remained flat at $397 per ton. However, domestic paddy prices have dipped due to weak external demand and ongoing summer-autumn harvesting. Fresh unhusked paddy in the Mekong Delta now ranges from 5,200 to 6,800 dong per kilogram, down from 5,400 to 7,200 dong a week earlier.
Meanwhile, Bangladesh’s Aush rice production dropped for a fourth consecutive year to 2.7 million tonnes, down from 2.9 million tonnes last year. Erratic weather and shrinking cultivated land are being blamed, raising alarms over long-term food security risks in the region.
In summary, Asia’s major rice exporting nations face a challenging environment marked by currency pressures, quiet demand, and growing supply—factors that are collectively reshaping global rice market dynamics.
