Thai rice prices fall to the lowest level in more than 4 years
Rice
Thailand
Vietnam
Published Nov 15, 2021
Tridge summary
In Thailand, the price of 5% broken rice fell to $377-383/ton, levels not seen since October 2017 and down from $382-384/ton last week. Some traders in Bangkok said that low export volumes for most of 2021 have left a surplus of domestic supply, with new harvests coming later in the year. Meanwhile, rice prices in top exporter India fell for the first time in five weeks.
Original content
This week, the price of Indian 5% broken parboiled rice traded at $359-364/ton, the lowest level since September 30 and down from $364-369/ton in the previous week. Olam Group Vice President India Nitin Gupta said demand is falling as everyone is expecting a new crop in December. In neighboring Bangladesh, farmers say the cost of rice production could increase by as much as 30% due to higher diesel prices. Last week, the country raised diesel and kerosene prices by 23%, resulting in a 27% increase in transportation costs. The price of Vietnam's 5% broken rice was unchanged from last week, trading at 430 - 435 USD/ton. In the domestic market, specifically in An Giang, rice prices on November 13 increased and decreased in opposite directions. IR 50404 rice decreased by 100 VND, to 5,500 - 5,700 VND/kg; OM 5451 rice decreased by 100 VND, down to 5,800 - 6,000 VND/kg. Meanwhile, OM 380 rice increased by 300 VND, to 5,600 - 5,800 VND/kg. The remaining rice varieties continue to remain ...
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