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economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
Asia Rice: India rates hit lowest since June 2023, Vietnam sees demand pick up
export prices from India extended declines this week to their lowest level since June 2023 due to weak demand and abundant supplies, while Vietnam rice saw increased demand.
India's 5% broken parboiled variety was quoted at $409-$415 per tonne, down from last week's $413-$420. Indian 5% broken white rice was priced at $390-$400 per ton this week.
Vietnam has been aggressively selling rice in the world market, which has put pressure on prices in other countries, said a New Delhi-based dealer with a global trade house.
Vietnam's trade ministry said on Wednesday that it would carry out a contract to export 100,000 tons of white rice to Bangladesh and promote Vietnamese rice with both new and traditional markets, state media reported.
«Supplies are plenty at the moment in Vietnam and also from other countries,» said a trader based in the Mekong Delta. «Although demand is there, prices still decreased.»
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markets
Digital
CEO
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