Global rice price heads up as Thailand, Pakistan stocks drop
Global rice prices are rising after hitting two-year lows, driven by falling stocks in exporters like Thailand and Pakistan. Indian rice markets remain under pressure, however, as Chhattisgarh plans to auction 3.5 million tonnes of rice, potentially increasing supply and weighing on domestic prices, according to industry experts.
Rice prices have begun to rise after falling to two-year lows in the global market, as stocks with some exporters such as Thailand and Pakistan have declined.
“Prices have begun to rise over the past couple of days, particularly in Thailand, as stocks have declined,” said Rajesh Jain Paharia, a New Delhi-based exporter.
However, BV Krishna Rao, President of The Rice Exporters Association (TREA), said the Indian market is currently under pressure since Chhattisgarh is set to float two tenders to sell 3.5 million tonnes (mt) of its rice stocks in the open market.
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Source : The Hindu Businessline
