Indian rice export prices near one‑month high on firm rupee; Thai, Vietnam rates steady
Indian rice export prices hit a near one-month high as modest demand and a stronger rupee lifted quotes. India’s 5% broken rice rose to $351–$359 per tonne, while prices in Thailand and Vietnam stayed flat amid cautious buying, including limited Philippine demand.
Indian rice export prices rose to a near one-month high this week, supported by a modest uptick in demand and a rebound in the rupee from record low levels, while rates in other major hubs like Thailand and Vietnam remained unchanged.
India’s 5% broken parboiled variety was quoted this week at $353-$359 per ton, its highest since January 8, and up from $351-$356 last week. Indian 5% broken white rice was priced at $351 to $356 per ton this week.
The rupee has sharply appreciated over the past week, forcing exporters to revise the dollar prices they quote, said a Mumbai-based trader.
The Indian rupee appreciated more than 1% this week, reducing traders’ returns from overseas sales.
Vietnam’s 5% broken rice was offered at $360-$367 per metric ton on Thursday, unchanged from a week ago, according to traders.
“Though the Philippines has resumed its rice purchases, we don’t expect it will buy at levels seen at the same time last year,” a trader based in Ho Chi Minh City said.
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Source : The Economic Times
