International rice prices have been increasing during the past three months and have reached the highest level since June 2018.

This is a result of rice bans and restrictions combined with logistical disruptions.  Some of the largest rice exporters have enforced bans or restrictions on rice exports due to fears that they may not be able to cope with domestic demand during the outbreak. India, the world’s largest rice exporter, enforced a three-week lockdown on rice exports, while on 25^th March, Vietnam, the third largest rice exporter, halted the signing of new rice export contracts. Cambodia also announced a partial export ban on rice on 5^th April, while the closing of Vietnamese ports, through which 40-60% of Cambodia’s rice exports are sent, has resulted in further disruptions.  

However, Thailand, the biggest competitor of Vietnam and the world’s second largest exporter of rice,  has benefitted, as importers seek alternatives. Thailand’s rice exports are expecting a positive outlook with the highest export prices since April 2013 having being reported in March 2020. According to Reuters data, Thailand's benchmark 5% broken white rice was quoted around $560-$570 per tonne in the first week of April, up from $468-$495 per tonne in March.  

Read the full article here (tridge.com – 9^th April 2020)

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