Thailand's 5% broken rice prices fell to $585 per ton on Thursday, the lowest since April 25th. This is a decrease from $595 per ton last week.
The Philippines is considering changing its import policy and lowering import taxes on rice. This is causing rice exporters to hold off on purchases.
A new supply of rice is expected to enter the market soon, potentially leading to even lower prices in the coming weeks.
Vietnam's 5% broken rice prices also dipped slightly, offered at $575 per ton this week compared to $575-$580 last week.
Vietnam exported 650,000 metric tons of rice in June, showing a 5.7% increase compared to June 2023.
High freight costs are making Indian rice less attractive to African buyers, who are known to be very price-sensitive.
The Baltic Exchange's main sea freight index remains near a two-year high, contributing to the high cost of rice exports.
Thailand's 5% broken rice prices fell to $585 per ton on Thursday, the lowest since April 25th. This is a decrease from $595 per ton last week.
The Bangladeshi government is facing challenges in controlling rice prices despite good yields and existing rice stocks.
Rice prices from Thailand and Vietnam are down due to wait-and-see approach from Philippines and high freight rates.
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