Rice export prices in Thailand have surged to their highest point in two months as a result of the strengthening baht, reaching $580 per ton for the 5% broken variety. The market was described as quiet by a Bangkok-based trader, who mentioned that deliveries were meeting previous orders and that there were no supply issues due to good water levels.
In Bangladesh, rice prices have remained high amidst concerns over supply disruptions caused by ongoing floods in the country. The death toll from the devastating floods reached 23 people, impacting crop production and potentially leading to further increases in rice prices. Similarly, Vietnam's 5% broken rice price held steady at $578 per ton as traders anticipated the bidding results from Bulog in Indonesia and prepared for a long holiday weekend.
Indian rice prices, particularly the 5% broken parboiled variety, stood at $540-$545 per ton, unchanged from the previous week. Despite the stability in prices, Indian rice has become more closely priced to rice from other origins compared to a few months ago. This narrowing price gap has led buyers to explore alternative options, as noted by a dealer from New Delhi. India has also increased its purchase price of new-season common rice paddy by 5.4% to 2,300 rupees per 100 kg.