Thai rice prices surge on major orders from China and Singapore

BANGKOK – Thai rice prices have risen sharply in mid-November, supported by large orders from China and Singapore, boosting confidence among exporters, millers and farmers, according to Banjong Tangjitwattanakul, President of the Thai Rice Mills Association.

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.

Prices climbing across key categories

On November 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 6,100–6,800 baht to 6,100–6,900 baht per tonne, while 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 last year — especially for jasmine rice, which remains highly sought after in global markets.