This week's rice price rise is not good news for everyone

Nov 3, 2026, Viewpoint

This week's rise in rice prices is not good news for everyone.

On 29/10, Vietnam's 5% broken rice was offered at USD 470–480/ton, up sharply from USD 440–450/ton the previous week, the highest since January 2025. Fragrant 5% broken rice rose to USD 500–515/ton, up USD 15/ton. Jasmine was offered at USD 535–539/ton, up USD 8/ton.

The reason is not a sudden surge in demand. Domestic supply is very thin. The Autumn to Winter crop will not start coming in until late November, and its output is forecast at only half of the Summer to Autumn crop.

These numbers need a different reading: prices are up because goods are scarce, not because we have become better at selling. Those who have the right goods, to the right standard, at the right time will benefit. Those with no goods and no contracts can only stand outside and watch prices run.

The rule to remember: when prices rise because goods are scarce, do not celebrate too soon; ask yourself whether you still have goods to sell.

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