https://www.africa-agri-market.com/ Asia Rice Markets: India Prices Hit 3‑Month High as Demand Woes Shadow Thailand & Vietnam 🍚📉

BENGALURU / BANGKOK / HANOI, Jan 2 (Reuters) – Rice export prices from India climbed to their highest in nearly three months this week, buoyed by rising local paddy costs, even as traders in Thailand and Vietnam grapple with weak global buying interest.  5% broken parboiled rice was quoted at USD 355–360 per tonne, up from USD 350–357 last week, reaching its strongest levels since early October. However, demand from key overseas buyers remains lackluster, particularly in Africa and Southeast Asia, where many importers have held off on new purchases, hoping prices will soften. “African buyers are not active in the market and are delaying purchases,” said Umesh Jain, director of Sponge Enterprises, an Indian exporter. 

By contrast, Thailand’s 5% broken rice held steady at around USD 410 per tonne, but traders in Bangkok say buying interest has been subdued since the Christmas week, with many deals postponed. “This year, both exporters and traders have had a very tough time as prices have fallen,” a Bangkok trader said. In Vietnam, the 5% broken variety was offered at USD 360–365 per tonne, unchanged from last week. Activity in Ho Chi Minh City has been slow as a mini‑harvest winds down, and external demand remains weak. Traders expressed concerns that Vietnam’s rice exports could face even more challenges next year. 

Some regional importers are reconsidering their buying strategies: the Philippines might impose limits on rice imports once again, while Indonesia is no longer a key buyer, according to traders. Meanwhile, Bangladesh has approved a tender to import 50,000 metric tons of rice from India’s Bagadiya Brothers at about USD 359.77 per ton — a sign that demand, though subdued elsewhere, persists in parts of South Asia. Overall, while Indian rice prices show resilience, Thai and Vietnamese markets remain under pressure from soft global demand and cautious buyers, keeping the overall outlook uncertain for exporters across Asia.