Copyright © 2021 Mintec Limited Contents
Grains
Rice
6 Rice Vietnam - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
300
350
400
450
500
550
RC42 - Rice white 5% bkn Hanoi VN
Rice India - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
320
340
360
380
400
420
440
460
480
RK47 - Rice white 5% bkn fob IN
The May average price of Indian rice was stable m-o-m at USD 385/MT. Indian rice prices were pressured at the
beginning of the month by the release of government stocks. However, the increased rice availability was offset by
the strengthening of the rupee (INR) against the US dollar (USD). The average price remained 8% above May
2020 levels, supported by strong demand during late 2020 and early 2021, as Indian rice remained at a discount
compared to other major Asian rice exporters.
The Thai rice price rose marginally by 0.6% m-o-m to USD 478/MT in May, driven by high fuel prices, which
translated into more expensive freight and low demand. However, the average price is 3% lower compared to the
same period in 2020, led by a recovery from extreme drought conditions then and lower than expected demand for
Thai rice due to its premium price.
Rice Thailand - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
350
400
450
500
550
600
RJ04 - Rice white 5% bkn fob TH
The May average price of Vietnamese rice fell by 2% m-o-m to USD 477.7/MT, as buyers switched to cheaper
suppliers. Also, domestic demand was reported tepid due to surges in COVID-19, which hit some rice-growing
provinces in the Mekong Delta. Nevertheless, the price is trending at a multi-years' high, with the May average
price up by 9% y-o-y, supported by unfavourable weather conditions during Q3 2020 and strong demand from
buyers in other Asian countries and Africa, at the expense of high Thai rice prices.