India and Pakistan are currently in competition in the global rice export market, with each aiming to increase their market share. After a recent drop in rice prices, the market has started to recover. While Pakistan’s rice offers are competitive, its impact on India's export prospects is limited by its smaller production capacity.

India has seen a boost in rice supply, especially with the harvesting of the new crop underway in major producing states. This has contributed to price stability in India. Moreover, the Indian government has lifted export restrictions on all rice categories and removed a 20% export duty on Sela rice, making Indian rice more competitive on the global market.

Following India’s policy changes, Thailand and Pakistan reduced their rice export prices by 10-15%, but as Indian prices began to strengthen, other countries also increased their prices. The demand for rice, particularly in the Philippines, has been strong, with international buyers showing interest in India’s new crop. Recently, the export prices for rice have been:

• Vietnam: $520–524 per tonne
• Thailand: $516 per tonne
• Pakistan: $455–459 per tonne
• India: $453–457 per tonne

Though the price difference between India and Pakistan has narrowed, the overall expectation is that Indian rice exports will regain their previous market strength, despite the ongoing competition from countries like Pakistan and Thailand.