Latest news with #Bangkok-based
Business Recorder
14 hours ago
- Business
- Business Recorder
Asia rice: Prices in India edge up as demand improves; muted activity seen elsewhere
BENGALURU/MUMBAI/BANGKOK/DHAKA AND HANOI: Indian rice export prices edged up from two-year lows this week, helped by improving demand, while a lack of buying activity and higher supplies weighed on Thailand and Vietnam rates. India's 5% broken parboiled variety was quoted at $380-$386 per ton, up from the last week's $378-$384. Indian 5% broken white rice was priced at $373 to $377 per ton this week. 'The weak rupee is helping exporters a bit. We can see some demand coming back,' said Himanshu Agrawal, executive director at Satyam Balajee, a leading rice exporter. India's state reserves of rice, including unmilled paddy, totalled a record 59.5 million metric tons as of June 1, far exceeding the government's target of 13.5 million tons for July 1. Vietnam's 5% broken rice was offered at $387 per metric ton on Thursday, down slightly from $388 a week ago, according to the Vietnam Food Association. 'Trading activity is muted, but the authorities are seeking to boost shipments to China,' a trader based in Ho Chi Minh City said. A delegation of 20 Vietnamese rice processors and exporters led by trade ministry officials visited China's Guangdong province last week to seek buyers, the trader said. Thailand's 5% broken rice slipped to $397 per tonne from $398 quoted last week, on a stronger baht and weak demand. 'I'm very worried about farmers, there is a lot of supply and the new crop should have good yield from good water levels,' a Bangkok-based trader said. Meanwhile, domestic rice prices in Bangladesh remain high despite the government's efforts to cool the market, traders said. Measures such as increased government procurement, easing import duties and market monitoring have so far failed to significantly reduce the prices of the staple grain. Retailers are still selling coarse and medium-grain rice at prices far beyond the reach of many low-income consumers.
Business Recorder
13-06-2025
- Business
- Business Recorder
Rates drop across major hubs as supply surges, demand stalls
BENGALURU/ MUMBAI/BANGKOK/DHAKA AND HANOI: Rice prices across major Asian hubs declined this week, weighed down by weaker demand and higher supplies, with Indian rates extending their fall to their lowest level in two years. India's 5% broken parboiled variety was quoted at $378-$384 per ton, down from the last week's $380-$386. Indian 5% broken white rice was priced at $372 to $377 per ton this week. 'Demand has been very weak for the past few weeks, even after we lowered prices. Supply is ample,' said a Kolkata-based trader. India's state reserves of rice, including unmilled paddy, totalled a record 59.5 million metric tons as of June 1, far exceeding the government's target of 13.5 million tons for July 1. Thailand's 5% broken rice fell to $398 per tonne, from $410 quoted last week, on currency volatility and weak demand, according to traders. 'Prices fell on the weak baht and limited demand,' said a Bangkok-based trader.
7NEWS
08-06-2025
- Sport
- 7NEWS
'Let's get it on': Opetaia calls out Ramirez after jaw-dropping title defence
A Jai Opetaia right hook likely broke his latest world title challenger's jaw but the Australian saved his best shot for the man he wants next after a brutal title defence. The IBF and The Ring cruiserweight champion stopped the previously unbeaten Italian Claudio Squeo in the fifth round in Sunday night's Gold Coast duel. Body shots hurt Squeo in the fourth round before a right hook landed in the fifth and put the challenger on his haunches and feeling for his probable broken jaw. Opetaia moved to 28-0, untroubled in what had loomed as a banana-peel clash after unsuccessfully chasing bigger fights since first winning the belts three years ago. He and manager Mick Francis will travel to the United States next to sit ringside when WBA and WBO champion Gilberto 'Zurdo' Ramirez defends his belts later this month on the Los Angeles undercard of YouTube sensation Jake Paul. It's a fight Opetaia has been chasing, a fact he made crystal clear post-fight. 'I was just in a rush; I really wanted to get him out of here,' he said of the gutsy rival. 'I'm chasing these unification fights and it's frustrating. 'Next fight, Zurdo Ramirez. Let's get it on. 'The fight is easy to be made ... let's do it. 'I believe I'm the best boxer in the cruiserweight division and that's all I want to prove.' Earlier, Brisbane -based Irish favourite Conor Wallace saw off French campaigner Dylan Colin with a gritty, unanimous points victory over eight rounds. Moving to 16-1, the light heavyweight is ranked No.2 in the IBF standings and eyeing a world title shot later this year in a class headlined by Dmitry Bivol. Max 'Money' McIntyre, still just 20, set the tone earlier in the night with his sixth consecutive stoppage to move to 8-0. New Zealand's Ricaia Warren started strongly but the undefeated super middleweight connected with a clean combination to end the fight in the sixth round. 'Welcome to the Money show, ladies and gentleman,' McIntyre said. 'I'm here for world titles, here for straps. I want to go down as the greatest of all time.' Bangkok-based Australian featherweight Tyler Blizzard beat Rocky Ogden to win the IBF's Pan Pacific belt while Danny Keating badly split Blake Minto above the left eye and won all 10 rounds in their welterweight battle.
Mint
06-06-2025
- Business
- Mint
ASIA RICE-Indian rates fall to two-year low on robust rains, weaker rupee
(Repeats story published on Thursday with no changes to text) India rates fall to $380-$386 per ton Thai rice demand remains weak Philippines to diversify import sources away from Vietnam - trader June 5 (Reuters) - Indian rice export prices fell to their lowest level in two years this week due to depreciation of the rupee and expectations that a second year of robust monsoon rains would lead to another bumper crop, while Thailand saw muted demand. India's 5% broken parboiled variety was quoted at $380-$386 per ton, down from the last week's $382-$389. Indian 5% broken white rice was priced at $373 to $378 per ton this week. "India is poised to harvest another bumper crop if monsoon rains remain conducive. This will add to already overflowing stocks," said a Kolkata-based trader. The country last month raised the price at which it will buy the new-season common rice paddy variety from local farmers by 3%, the lowest increase in five years, as New Delhi struggles to manage overflowing granaries after last year's record harvest. Meanwhile, Thailand's 5% broken rice held at $410 per tonne, from $405-$410 per tonne last week. "Demand is not good at all," while supply has been ample, said a Bangkok-based trader. "The Philippines and Indonesia are not buying large lots this year." Vietnam's 5% broken rice was offered at $396 per metric ton, unchanged from a week ago, according to Vietnam Food Association. "The Philippines is seeking to diversify its sources of rice supplies and this might have a certain impact on Vietnam as the Philippines is the largest buyer," a trader based in Ho Chi Minh City said. The trader, however, said Vietnam is also seeking to increase the proportion of high-quality rice for markets such as Japan and Europe at higher prices. "We have noticed that the Philippines has cut down on their purchases from Vietnam," another trader based in the city said.
Business Recorder
05-06-2025
- Business
- Business Recorder
Asia rice: Indian rates fall to two-year low on robust rains, weaker rupee
Indian rice export prices fell to their lowest level in two years this week due to depreciation of the rupee and expectations that a second year of robust monsoon rains would lead to another bumper crop, while Thailand saw muted demand. India's 5% broken parboiled variety was quoted at $380-$386 per ton, down from the last week's $382-$389. Indian 5% broken white rice was priced at $373 to $378 per ton this week. 'India is poised to harvest another bumper crop if monsoon rains remain conducive. This will add to already overflowing stocks,' said a Kolkata-based trader. The country last month raised the price at which it will buy the new-season common rice paddy variety from local farmers by 3%, the lowest increase in five years, as New Delhi struggles to manage overflowing granaries after last year's record harvest. Meanwhile, Thailand's 5% broken rice held at $410 per tonne, from $405-$410 per tonne last week. Asia rice: Rates subdued across top exporting hubs on weak demand, ample supply 'Demand is not good at all,' while supply has been ample, said a Bangkok-based trader. 'The Philippines and Indonesia are not buying large lots this year.' Vietnam's 5% broken rice was offered at $396 per metric ton, unchanged from a week ago, according to Vietnam Food Association. 'The Philippines is seeking to diversify its sources of rice supplies and this might have a certain impact on Vietnam as the Philippines is the largest buyer,' a trader based in Ho Chi Minh City said. The trader, however, said Vietnam is also seeking to increase the proportion of high-quality rice for markets such as Japan and Europe at higher prices. 'We have noticed that the Philippines has cut down on their purchases from Vietnam,' another trader based in the city said. State media reported on Thursday Vietnam's rice exports in May were estimated at 1.1 million tons, raising total shipments in the January-May period to 4.5 million tons.
