Rice prices in Vietnam's An Giang province rose slightly last week, driven by expectations of a demand recovery. Fresh Dai Thom 8 rice climbed to 6,300-6,500 VND/kg, while OM 18 increased to 6,400-6,600 VND/kg. Other varieties like OM 5451 and OM 34 also saw modest gains. Raw rice prices, such as CL 555 and IR 50404, increased by 100-150 VND/kg. High-quality rice varieties maintained their prices, with OM 5451 and Dai Thom 8 holding steady at 9,300-9,400 VND/kg and 9,200-9,400 VND/kg, respectively.
Exports showed a significant uptick, with 5% broken rice prices surging to $440-450 per ton, the highest since August 21st. Traders anticipate the Philippines will resume rice purchases from Vietnam starting in November 2026, fueling optimism for a vibrant export market. Observers believe Vietnam's target of exporting 8 million tons of rice this year is achievable.
The Asian rice market saw a broad price increase last week. In India, export rice prices hit a one-year high due to a strengthening rupee and supply concerns. Thai rice prices also rose to $480 per ton, though exports may fall short of the 7 million ton target due to competition and weakening demand.
Meanwhile, U.S. grain prices on the Chicago Board of Trade (CBOT) declined due to favorable harvesting conditions. Soybean and corn contracts fell, marking consecutive weekly declines. Wheat prices also dropped, despite disruptions in the Black Sea. Coffee prices, however, recovered on international exchanges, with Robusta and Arabica futures rising. In Vietnam's domestic market, coffee prices saw a slight decrease.