Vietnam rice prices climb to nearly two-year highs

Vietnamese rice export prices reached their highest level since January 2025 this week amid tight domestic supplies and concerns over potential supply disruptions. As of October 29, Vietnamese 5% broken rice was offered at $470–480/t, compared with $440–450/t a week earlier. Meanwhile, Indian rice prices remained steady near their highest level in more than a year.

The main reason for the increase in Vietnamese rice prices was a decline in available stocks ahead of the new harvest. According to traders, the autumn-winter rice harvest will not begin until late November, with expected production estimated at roughly half the summer-autumn crop. A resumption of purchases by the Philippines in November could provide additional support to prices. Meanwhile, market participants are concerned that El Niño could negatively affect rice production next year.

In India, export prices remained largely unchanged. Offers for 5% broken parboiled rice stood at $387–392/t, while white rice of the same grade was quoted at $389–394/t. According to exporters, arrivals of new-crop rice are already increasing in the country’s northern states, with supplies from central and southern regions expected to rise from next month. This could increase availability in both domestic and export markets.

In Thailand, prices for 5% broken rice remained unchanged from the previous week at $480/t. Quotations were supported by exchange rates and high domestic prices. Demand for Thai rice continues from the Philippines and other traditional buyers, although some African importers prefer cheaper supplies from India. Flooding in parts of Thailand, where harvesting is currently underway, has also created additional uncertainty over supplies.

In Bangladesh, domestic rice prices remain elevated despite adequate grain stocks. Rising energy costs are adding pressure to the market by increasing production and transportation expenses. Overall, conditions across the Asian rice market remain mixed: tight supplies are driving prices higher in Vietnam, while India maintains its price competitiveness through lower export quotations.

Tags: rice, Vietnam