Farmers harvest rice in a field in Chainat province, Thailand, Aug. 31, 2023. Photo by Reuters/Athit Perawongmetha
Thai rice export prices fell to a 14-month low this week due to weak demand and competition from other rice exporting countries.
Thai 5% broken rice was priced at US$560 per ton, the lowest level since July 20, 2023 and down from $565 last week.
A Bangkok-based trader said on Thursday that prices could fall further if the Thai baht depreciates.
Another trader said the market was waiting to see changes in Indian rice policy in the coming months and that supply was in the harvesting stages.
Meanwhile, Vietnamese 5% broken rice was exported at $565 per ton on Thursday, according to the Vietnam Food Association, also down from around $580 last week.
“Prices fell on competition from other suppliers such as Thailand, Cambodia and Myanmar,” a trader based in Ho Chi Minh City said.
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