Rice prices from India, the top exporter, remained stable at an 18-month low, while Thai rates remained unchanged from the previous week, owing to weak demand and rising supplies.

India's Rice Prices

The week's quotes for India's 5% broken parboiled variety remained the same at $429–$435 per metric ton. Quotes for Indian 5% broken white rice ranged from $432 to $440 per ton.

“Demand is currently slow. With prices dropping in the last three months, buyers are only purchasing what they absolutely require,” said an exporter based in Kakinada, Andhra Pradesh.

Despite New Delhi's export curbs, India's rice exports remained stable in 2024, with record high premium basmati rice shipments offsetting a drop in non-basmati rice sales overseas.

Thailand’s Rice Prices

This week, the price of Thailand's 5% broken rice was between $450 and $455 per tonne, which is the same range as the previous week, when it fell to its lowest level since December 2022.

According to Thai traders, there is still a sufficient supply of rice, and the market anticipates additional input by the end of February.

According to traders, the demand has been rather low, with a few minor transactions coming from Asian and African markets but no significant ones.

A rice trader from Bangkok stated, “We have seen a drop off from last year's big buyers like Indonesia.” “The Philippines is purchasing less as well.”
 
The Thai government had warned that this year's rice exports could drop by roughly 24% to 7.5 million metric tons.

In 2024, Thailand, the world's second-largest rice exporter after India, shipped 9.95 million tons of rice, raising its annual total by 13.4% and reaching its highest level in six years.