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.
