Asia rice: India rice prices hit 8-month low
Thai prices fell to their lowest level in over a year as bidders were forced to reduce their high prices in a recent auction held by Indonesia, while India’s rice export prices extended losses this week to hit an eight-month low.
Thai prices fell to their lowest level in over a year as bidders were forced to reduce their high prices in a recent auction held by Indonesia, while India’s rice export prices extended losses this week to hit an eight-month low.
Top exporter India’s 5% broken parboiled variety was quoted at $528-$534 per ton this week, the lowest since mid-January, and down from the last week’s $535-$540.
“Demand has been very weak for the past few weeks. Buyers are anticipating a reduction in India’s export duty structure and are postponing purchases,” said Krishna Rao, president of the country’s Rice Exporters Association.
Source Link : https://www.brecorder.com/news/40322164/asia-rice-india-rice-prices-hit-8-month-low
