Vietnam's rice export market is showing strong signs of recovery, with prices reaching their highest levels since late August. The price of 5% broken rice surged to $440-450 per ton, up from $420-430 the previous week. This rise is attributed to expectations of a rebound in import demand, particularly from the Philippines, which is reportedly set to resume rice purchases from Vietnam starting in November 2026. Observers believe the country is on track to meet its target of exporting 8 million tons of rice this year.
Domestic rice prices in Vietnam also saw slight increases last week. Fresh Dai Thom 8 rice rose by 200 VND/kg, while OM 18 and OM 5451 increased by 200 VND/kg and 100 VND/kg, respectively. High-quality rice varieties like OM 5451 and Dai Thom 8 maintained their prices at 9,300-9,400 VND/kg and 9,200-9,400 VND/kg. Raw rice prices also climbed, with CL 555 and IR 50404 increasing by 100-150 VND/kg.
The Asian rice market as a whole experienced a price surge last week. In India, export rice prices hit their highest level in over a year due to a strengthening rupee and supply concerns. Thai rice prices also rose to $480 per ton, the highest since September 10th, driven by increased purchasing ahead of the secondary harvest. However, Thailand's Rice Exporters Association cautioned that the country may fall short of its 7 million ton export target due to competition and weakening demand.
Meanwhile, the US grain market saw declines on the Chicago Board of Trade (CBOT) on October 16th. Soybean prices fell 1.75 cents to $12.6125 per bushel, marking a 2.4% weekly drop. Corn prices decreased by 3.75 cents to $4.7425 per bushel, while wheat futures fell 9.5 cents to $6.605 per bushel. Despite positive demand from China, favorable weather conditions for winter planting put further pressure on grain prices.
The coffee market showed signs of recovery, with world coffee prices rising on both international exchanges. Robusta coffee futures for November 2026 delivery increased by 1.16% to $3,414/ton on the London exchange, while Arabica coffee futures for December 2026 delivery surged by 3.66% to 305.60 cents/lb on the New York exchange. In Vietnam's domestic market, coffee prices closed last week at 92,100-93,000 VND/kg, a slight decrease from the previous week.