Export rice price of India increased slightly by 3 USD / ton
Follow Reuters, 5% price of parboiled rice from the world's top rice exporter, India, has risen to about 3 USD from 370 – 376 USD a week ago to 373 – 379 USD / ton this week, although demand from African countries is leveling off.
On September 19, the rupee moved away from the nearly two-week low set earlier in the week.
Nitin Gupta, Olam – India's vice president of rice trading, said buying from West African countries, especially from Benin itself, had weakened.
Vietnam, Thailand export rice prices were stable this week
Meanwhile, ordinary rice price of 5% broken Vietnam unchanged at US $ 325 / ton, the lowest level since November 2007, as market activity remains bleak due to weak demand, a trader in Ho Chi Minh City said.
The lack of new transactions has tightened the Vietnamese market, with current prices about 13% lower than the beginning of the year.
Vietnam is seeking to encourage private investment in modernizing local rice processing and storage facilities to improve its competitiveness, state media reported on Thursday (September 19), citing an official of the Ministry of Agriculture and Rural Development.
In Thailand, the second largest rice exporter in the world, 5% broken rice price is unchanged at 400 – 418 USD / ton due to lack of demand and exchange rate between baht and USD less volatile.
At an average of $ 409, Thai rice is still near the highest level since June 2018.
Demand remains low as prices rise higher, discouraging buyers, traders said. Strong baht has caused prices to rise higher than competitors since the beginning of the year.
However, supply concerns persist due to ongoing flooding in northeastern Thailand, along with estimated losses to more than 240,000 hectares of agricultural land under the impact of tropical storm Podul floods. cause.
“At the present time, there is no supply concern but we will have to estimate the flood will affect the supply. rice how about the end of the year, “said a trader in Bangkok.
Bangladesh, also recovering from a devastating flood, is considering whether to introduce newer rice varieties and technologies to try to reduce production costs and increase domestic production, Bangladesh's Agriculture Minister Abdur Razzaque said.
Dhaka authorities have been unable to secure contracts overseas since the long-term export ban was lifted in May, with rice prices more expensive than India or Thailand, despite a sharp drop in domestic prices. recently.
