Thai rice export prices have fallen to a 14-month low this week, impacted by weak demand and increased competition from other rice-exporting countries. As of September 26, the price for Thai 5% broken rice was set at USD 560 per tonne, down from USD 565 the previous week and marking the lowest price since July 20, 2023. A trader in Bangkok noted that the depreciation of the Thai baht is expected to contribute to the continued decline in rice prices. Thai Commerce Minister Pichai Naripthaphan indicated that the effects of the baht’s movement on exports will become apparent over the next three months.
Additionally, there is anticipation in the market regarding potential changes in Indian rice policy in the coming months, as supply enters the harvesting phase. Meanwhile, Vietnamese 5% broken rice was priced at USD 565 per tonne on September 26, also reflecting a decrease from approximately USD 580 the previous week. A trader in Ho Chi Minh City attributed the price drop to competition from suppliers in Thailand, Cambodia, and Myanmar.
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