International 25% broken rice prices diverge as Thailand leads gains

• Thailand records high gains, prices rise over 27% since Oct’25
• India remains stable, with prices almost unchanged from Oct’25 levels

International prices for 25% broken rice showed a divergent trend across major Asian origins between October 2025 and August 2026, with Thailand witnessing the sharpest increase, followed by Pakistan and Vietnam. In contrast, Indian prices remained largely range-bound over the period.

India prices remain stable

India’s 25% broken rice export price stood at $346.41/t in October 2025 and initially declined, reaching around $330-333/t during November and December. Prices recovered during early 2026 and reached $346.70/t in August, leaving them almost unchanged from October levels. The relatively stable movement indicates that Indian rice continued to maintain a competitive position compared with the higher-priced supplies from other major origins.

Thailand records strongest price increase

Thailand witnessed the most significant rise among the origins tracked. Its 25% broken rice price increased from $351.20/t in October 2025 to $447.33/t in August 2026, marking a gain of around 27%. Prices strengthened sharply during the first half of 2026, reaching a period high of $479/t in June. Although prices subsequently eased in July and August, they remained substantially above October levels.

Pakistan prices strengthen through 2026

Pakistan’s 25% broken rice prices also recorded a firm upward trend. Prices increased from $314.12/t in October 2025 to $375.38/t in August 2026, representing a rise of nearly 20%. The market strengthened considerably during the first half of 2026, with prices reaching $379.20/t in July, the highest level recorded during the period, before seeing a marginal correction in August.

Vietnam sees strong recovery

Vietnam’s prices followed a similar pattern, rising from $350.96/t in October 2025 to $418.38/t in August 2026, an increase of around 19%. Prices weakened during late 2025 and early 2026 but began recovering from March onward. The upward momentum continued through the following months, with prices reaching their highest level of $418.38/t in August.

Outlook

The increase price differential could continue to influence buyer preferences and export competitiveness across Asian origins. India’s relatively stable pricing provides an advantage against higher-priced competing origins, while the elevated prices in Thailand, Pakistan and Vietnam could create opportunities for Indian suppliers to attract price-sensitive buyers.