Rice Exports from Thailand and Vietnam Hit by High Offer Prices

18-May-2026 01:42 PM

Bangkok. According to the Thai Rice Exporters Association, during the week of May 6 to May 13, the export offer price for Thai rice rose by approximately $20 per ton, while Vietnam increased its rice export offer price by $60 per ton between April 1 and May 14. In contrast, during this same period, offer prices in India and Pakistan rose by less than $10 per ton.

Iraq has halted rice imports from Thailand due to the suspension of shipping traffic through the Strait of Hormuz. Analysts suggest that if the ongoing crisis in West Asia is resolved quickly, rice exports from Thailand could see a recovery during the second half of the current year. Meanwhile, rice exports from Myanmar and the United States are expected to decline.

Projecting that the average futures price for rice on the Chicago Exchange will range between $11.20 and $11.90 per cwt during 2026, an agency noted that futures prices in the first quarter of 2026 remained higher compared to the final months of 2025. The average futures price for rice stood at $10.70 per cwt in January, rising to $11.00 in February,

and further strengthening to $11.40 per cwt in March. In April, prices softened slightly to $11.30, but began to rise once again in May. On May 8, the futures price for rice surged to a high of $12.20 per cwt. In the coming months, global rice futures prices are expected to fluctuate depending on a variety of factors. India currently holds a substantial exportable surplus stock of rice.