Thai rice prices were up, while Indian exporters were having headaches because of COVID-19
Published Jul 27, 2020
Tridge summary
Reuters reported that the price of Thai 5% broken rice increased from 440 - 445 USD last week to 450 - 482 USD / ton this week. A trader based in Bangkok said industry players are anticipating lower supplies this year. He also added that rice millers are hoarding goods and raising prices.
Original content
On July 22, the Thai Rice Exporters Association lowered its export forecast for 2020 to 6.5 million tons, the lowest level in two decades, citing drought and uncompetitive prices. However, another trader said: "Prices may drop if it rains a lot." Vietnam rice price dropped again this week Meanwhile, 5% broken rice price in Vietnam was 2 - 5 USD / ton this week, from 435 - 457 USD / ton last week to 440 - 450 USD. Trade activity is still slow due to weak demand from traditional buyers, according to a trader in Ho Chi Minh City. Preliminary shipping data shows that 169,100 tons of rice will be loaded onto boats in Ho Chi Minh City ports between July 1 and July 31, most of which will be shipped to Africa, Cuba, East Timor and Malaysia. Another trader in Ho Chi Minh City said demand from China could increase due to floods in Asian countries. Bangladesh is also struggling with a series of pandemics and the worst floods in recent years. The South Asian nation could face a serious loss ...
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