The Asian rice market saw mixed trends last week, with Thailand raising prices while Viet Nam and India maintained stable levels

Last week, Thai rice export prices saw an increase thanks to positive signals from market demand and domestic factors, as well as developments related to the nomination of a new leader for the US Federal Reserve (Fed). Meanwhile, Indian rice prices remained stable due to the depreciation of the domestic currency, which helped offset higher input costs.

In Thailand, the price of 5% broken rice also rose to $390-400 per ton in the January 29 trading session, the highest level since December 24, compared to $380 per ton the previous week.

Traders explain that this price increase stems from the high domestic rice prices. Exporters and millers are currently waiting to assess the quality of the upcoming harvest. In addition, exchange rate fluctuations have also contributed slightly to the price hike.

However, traders also noted that overall market demand remains rather subdued, with regular customers only purchasing in small quantities. Regarding supply, expected output is positive due to favorable water conditions.

Earlier, on January 30, US President Donald Trump nominated Kevin Warsh to succeed Jerome Powell as Chairman of the Federal Reserve. This decision concluded a tumultuous five-month search surrounding the world's most powerful central bank. In a post on the social media platform Truth Social, President Trump asserted that he had known Warsh for a long time and had no doubt that Warsh would become one of the "greatest" Fed Chairmen. Kevin Warsh (55 years old) is a familiar face in the financial world thanks to his previous experience working at the Fed.

Meanwhile, in Viet Nam, the price of 5% broken rice was offered at $360-367 per ton in the January 29 trading session, a slight increase compared to the $360-365 per ton of the previous week.

A trader in Ho Chi Minh City noted that market demand is currently stable, with increasing orders from key partners such as the Philippines and Malaysia. Business circles also noted that the Philippines is expected to purchase approximately 300,000 tons of rice for delivery in February 2026.

In India, parboiled rice with 5% broken grains remained unchanged this week at $351-356 per ton compared to last week. White rice with 5% broken grains was listed at $348-353 per ton.

The Indian rupee fell to a record low on January 29, boosting the rebates for exporters from foreign exchange earnings. An exporter in Kolkata said the weak rupee helps them maintain a competitive edge amid a supply-oversupply market, although overall consumer demand remains subdued.

In Bangladesh, domestic rice prices remain high despite secured reserves and imports, putting pressure on consumers. Last week, the government authorized private companies to import 200,000 tons of parboiled rice to prevent price shocks, alongside state-level stockpiling efforts.

Source: VTV