Asia rice:New season supplies rise in India; Vietnam rates drop

By Reuters

Prices of parboiled rice exported from India held steady this week as strong demand from Africa offset pressure from new crop yields, while Vietnamese rates decreased due to strong supplies and Thai rates edged up on baht appreciation.

Top exporter India’s 5% broken parboiled variety was quoted at $444-$450 per metric ton this week, unchanged from the last week. Indian 5% broken white rice was quoted at $450-$458 per metric ton this week.

“The falling rupee is helping exporters offer rice at competitive prices despite a rise in paddy costs,” said a New Delhi-based dealer with a global trade house.

The Indian rupee hit a record low against the dollar this week, effectively increasing exporters’ margins.

This article has been republished from The Economic Times.