India export rice prices edge up on demand; global rates rise amid Middle East tensions
By Reuters
India’s rice export prices edged higher this week, supported by improved demand and a firmer rupee, while rising costs linked to the war in the Middle East added to upward pressure on Vietnamese and Thai rates.
India’s 5% broken parboiled variety was quoted this week at $344-$350 per metric ton, up from last week’s $341-$348, reflecting better demand and currency strength. Prices for Indian 5% broken white rice were at $338-$344 per ton.
The rupee’s sharp appreciation is prompting traders to raise export prices, while demand is gradually recovering, said a Kolkata-based exporter.
Vietnam’s 5% broken rice was offered at $375-$380 per metric ton on Thursday, compared with $375 a week ago, according to traders.
“Export activity has strengthened in recent weeks as buyers ramped up stockpiling amid expectations of higher prices linked to the Iran war, including higher costs for shipping and fertilisers,” a Ho Chi Minh City-based trader said.
Vietnam’s rice exports rose 62.3% in March from February to 1 million tons, according to government customs data.
For the first quarter of 2026, Vietnam’s total rice shipments fell 1.2% from a year earlier to 2.3 million tons, a Customs Department report said.
Thailand’s 5% broken rice rose to around $410-$440 per ton from $370-$375 previously, Bangkok-based traders said.
The Middle East conflict drove up input costs such as shipping, fuel cost and domestic rice prices, traders in Bangkok said, adding that a stronger baht also pushed price higher.
However, demand remained weak with shipments largely limited to regular customers, said a trader, noting that overall buying activity was subdued.
On the supply side, the dry season has reduced production, with some farmers halting rice cultivation due to low profitability.
Exporters are also under pressure, as rice mills prefer to sell at higher prices, said another trader.
Rice prices in Bangladesh have remained elevated, while the fuel shortage has disrupted rural areas, leaving tens of thousands of farmers struggling to secure diesel for irrigation at a critical stage of the paddy season.
This article has been republished from The Economic Times.