Myanmar rice prices have risen to their highest level in nearly two years due to shortages.
Myanmar’s 5% broken white rice price rose $10 to $505/tonne FOB, its highest since September 2024, making it the most expensive among major Asian suppliers. Tight long-grain supplies and stockholding are driving prices, while high domestic costs hurt exporter margins. Philippines demand remains stable, but USDA expects exports to fall 8.7%.
According to data from Platts, a division of S&P Global Commodity Insights, the price of 5% broken white rice from Myanmar is quoted at $505/tonne FOB FCL, up $10/tonne from a week earlier. This is the highest level since September 27, 2024, when the price reached $510/tonne.
The upward trend has made Myanmar rice the most expensive among major Asian suppliers. Myanmar’s 5% broken white rice is priced $65/ton higher than Thai rice, $70/ton higher than Vietnamese rice, $108/ton higher than Pakistani rice, and $143/ton higher than Indian rice.
According to three market sources surveyed by Platts between August 14-17, the widening price gap between Myanmar rice and other Asian suppliers could undermine its competitiveness, as buyers tend to seek out markets with lower prices.
The price increase is mainly due to a shortage of long-grain white rice as supplies from the current harvest are dwindling. Many sellers are also choosing to hold back their stock, further limiting the amount of rice available on the market.
“Currently, supply is very scarce. Only large traders and exporters with existing inventory can provide it,” said an exporter in Yangon.
Rising domestic rice prices are also narrowing profit margins for exporters, reducing the incentive to sell at current price levels.
“Domestic market costs are already too high, so exporters’ profits at this price level are very limited,” another exporter in Yangon said. According to this source, businesses are being cautious before committing to further purchases at high prices.
Despite the price increase, demand from the Philippines – one of Myanmar’s major rice customers in recent months – remains relatively stable. Orders for 5% broken white rice are still being recorded in the market.
According to the latest figures from the Myanmar Rice Federation, the country exported 126,416 tons of rice to the Philippines in July, accounting for 74.3% of its total rice exports that month.
“The Philippines is gradually reducing its dependence on a single source of supply and expanding imports from other countries. The amount of rice from Myanmar to the Philippines has increased this year, indicating that buyers are gradually accepting this source of supply,” a trader in Yangon commented.
However, export activities still face some limitations. According to market participants, the Philippines has not issued any new sanitary and phytosanitary permits, forcing Myanmar exporters to primarily conduct transactions based on previously issued permits.
Experts believe that short-term rice price movements in Myanmar will largely depend on the progress of the harvest, expected to begin in mid-September, as well as changes in import demand.
While current supply is scarce, Myanmar’s export outlook remains weak. According to the U.S. Department of Agriculture’s Foreign Agricultural Service (USDA), Myanmar’s rice exports for the 2026-2027 crop year (January to December) are projected to decline by 8.7% year-on-year, to approximately 2.1 million tons.
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Source : Vietnam.vn
