Asian rice market in the week of July 30th to August 6th: Vietnam's rice price was the highest for 2 months, Thai rice was firm

On August 6, Vietnam's export 5% broken rice was priced at 470 USD / ton, the highest level since mid-June and increased from 440-450 USD / ton a week ago.
"Supply is running out when the summer harvest is over", Reuters quoted a trader in Ho Chi Minh City said. According to this trader, many local traders are buying rice for stockpiling because it is predicted that the price will increase.
Regarding trading activities at the present time, this trader said: "Traders are focusing mainly on the implementation of the export contracts signed in advance with Cuba, Malaysia and the Philippines".
Vietnam is about to enter the Autumn-Winter rice crop, this harvest will start from October next.
In Thailand, 5% broken rice for export price is currently at 463 - 485 USD / ton, little change compared to 465 - 483 USD / ton a week ago.
"A strong baht (against USD) has kept Thai rice prices at a higher level than other competitors," Reuters quoted a trader in Bangkok.

The Thai market is still concerned about supply due to drought early this year affecting production.
“We see that there is not much supply from the new crop (secondary rice crop) on the market today, although it has rained recently. That means the price is likely to remain high for a while longer, ”Reuters quoted another trader as saying.
In India, 5% broken rice has a stable price at 380 - 385 USD / ton as a week ago.
Indian rice exporters are having difficulty fulfilling export orders due to limited number of containers and workers at the rice milling plants as well as in the country's largest rice export port due to the number of cases. SARS-CoV-2 virus infection increased sharply.
In Bangladesh, the longest lasting flood in more than two decades has submerged nearly 80,000 hectares of agricultural land.