BANGKOK: Thai rice prices have surged after large orders from China and Singapore, with jasmine paddy jumping up by up to 700 baht (S$28) per tonne.
Further gains are expected after the National Rice Policy and Management Committee (NRPMC) met on Nov 18.
Prices rose sharply in mid-November, supported by large orders from China and Singapore, boosting confidence among exporters, millers and farmers, according to Thai Rice Mills Association president Banjong Tangjitwattanakul.
Banjong said domestic paddy prices have continued to climb despite the peak harvest season, when new supply typically enters the market in large volumes.
The rebound is driven by clearer import demand, particularly a 500,000-tonne order from China and a 100,000-tonne order from Singapore, which have significantly strengthened market sentiment.
“Major buyers placing orders right as new crops enter the market is a major boost. It’s helping reverse prices upward this year, against seasonal expectations,” Banjong said, adding that confidence across the rice supply chain has noticeably improved.
On Nov 17, jasmine paddy prices rose by as much as 700 baht per tonne, increasing from 15,100 baht to 15,800 baht per tonne in some areas – a particularly positive signal during the harvest.
White paddy also edged up slightly from between 6,100 baht and 6,800 baht to between 6,100 baht and 6,900 baht per tonne. Glutinous paddy and Pathum Thani varieties remained stable but continued to attract strong buying interest.
Banjong added that the renewed international demand reflects stronger-than-expected appetite for Thai rice, helping stabilise domestic prices compared with 2024 – especially for jasmine rice, which remains highly sought after in global markets.
He noted that the NRPMC were expected to consider additional support measures for farmers for the 2025/2026 main-crop season.
“If new measures are introduced to support market stability, Thai rice prices could climb even further,” Banjong said. - The Nation/ANN
