India’s rates were near a month’s height
Bangladesh ends aromatic rice export ban
Trader says that regular customers from Africa, Iraq, Philippines buy less,
May 1 (Reuters) – Indian rice prices climbed a one -month high this week, which despite the demand for Tipid, appreciate the Indian rupee, while Thai rice prices remained stable due to low demand and abundant supply.
India’s rice prices for 5% broken variety
Last week’s $ 389- $ 396 was quoted from $ 390- $ 397 per ton. Indian 5% broken white rice was priced at $ 383 to $ 390 per tonne this week.
A Mumbai dealer from the global trade house said, “Demand is weak but increasing rupee is forcing exporters to increase prices.”
On Wednesday, the Indian rupees reached their highest level this year, resulting in the margin for exporters.
In Thailand, 5% broken rice price
Coming to the last week’s levels, approximately $ 410 per tonne remained. Traders have so far held it responsible for weak demand and adequate supply this year.
A Bangkok -based merchant said, “This week there are deals with regular customers from Africa, Iraq and Philippines, but they bought very little.”
Meanwhile, Bangladesh lifted the ban on export of aromatic rice, allowing private traders to export up to 25,000 tonnes, according to officials. The ban imposed in June 2022 was aimed at stabilizing the domestic market and curbing the volatility of the price.
Despite being the world’s third largest rice producer, Bangladesh has struggled with rising domestic prices, claiming traders that have increased by 10% -20% in the last one year.
The markets of Vietnam were closed for the national holiday. ,
