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Grains
Rice
8
The August average price of Indian rice stayed flat m-o-m, but decreased by 1.4% y-o-y, to USD 355/MT. Indian
broken rice prices stayed stable amid the country's export ban to ensure its domestic supplies. Since the RussiaUkraine
war started, there has been increasing demand for broken rice as a wheat feed alternative. China and
Vietnam have bought significant volumes of Indian broken rice, while demand from the domestic feed industry has
also increased.
The August average price of Thai rice increased marginally by 0.2% m-o-m and by 7.0% y-o-y, to USD 414.3/MT.
Rice export prices increased slightly, due to new inquiries amid the weakening of the Thai Baht. Traders reportedly
were seeking rice supplies to fulfil contracted shipments, mainly to Middle Eastern and African countries. According
to market sources, exports may reach the target of 7.5 million metric tonnes in 2022, due to the strong demand for
Thai rice. Thailand's rice exports (1st Jan - 28th Aug 2022) totalled 4.01m tonnes, up 60% from the same period last
year.
The August average price of Vietnamese rice decreased by 3.7% m-o-m, but increased by 3.0% y-o-y, to USD
396/MT. This price decrease was attributed to a demand slowdown and a better-than-expected summer-autumn
rice crop.
Rice India - USD/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
340
360
380
400
420
RK47 - Rice white 5% bkn fob IN
Rice Thailand - USD/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
350
400
450
500
550
RJ04 - Rice white 5% bkn fob TH
Rice Vietnam - USD/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
300
350
400
450
500
550
RC42 - Rice white 5% bkn Hanoi VN