Thai rice export costs fell to a 14-month low this week attributable to weak demand and competitors from different rice exporting nations.
Thai 5% damaged rice was priced at US$560 per ton, the bottom stage since July 20, 2023 and down from $565 final week.
A Bangkok-based dealer mentioned on Thursday that costs may fall additional if the Thai baht depreciates. One other dealer mentioned the market was ready to see modifications in Indian rice coverage within the coming months and that offer was within the harvesting levels.
In the meantime, Vietnamese 5% damaged rice was exported at $565 per ton on Thursday, in line with the Vietnam Meals Affiliation, additionally down from round $580 final week.
“Costs fell on competitors from different suppliers comparable to Thailand, Cambodia and Myanmar,” a dealer primarily based in Ho Chi Minh Metropolis mentioned.
