India’s 5% damaged parboiled selection was quoted at $379 to $387 per tonne, their highest since June 2021, from $366-$372 final week. Costs have risen for a 3rd straight week.
Indian parboiled rice costs rose due to a young from Bangladesh, which might be compelled to make large shopping for this yr because of crop harm, mentioned Himanshu Agarwal, govt director at Satyam Balajee, India’s largest rice exporter.
On the identical time, India is contemplating whether or not to limit exports of 100% damaged rice, authorities and business officers instructed Reuters on Friday, with the paddy space diminished by an absence of rainfall.
White rice costs had been regular due to ample provides, mentioned an exporter primarily based in Kakinada within the southern state of Andhra Pradesh.
Neighbouring Bangladesh was finalising offers with Vietnam and India to import a complete of 330,000 tonnes of rice because it races to replenish reserves and funky home costs.
In the meantime, Thailand’s 5% damaged rice costs dropped barely to $415-$416 per tonne from $416-$420 final week.
A Bangkok-based dealer attributed the dip to a change in trade charges.
“In the course of the wet season patrons should not so energetic as a result of there’s all the time manufacturing,” the dealer mentioned, including some orders got here from the Center East however not in massive portions.
One other dealer mentioned orders had been coming in from Africa for parboiled rice, whereas demand for white rice was regular.
Shipments had been anticipated to satisfy forecasts of seven million to 7.5 million tonnes from depreciation of baht, decrease transport prices and good yield from rain, he added.
Vietnam remained closed for the Nationwide Day vacation.
