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Business Recorder
15 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.
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.
Mint
23-05-2025
- Business
- Mint
ASIA RICE-High supply, weak rupee push India rates to near 2-year low
(Repeats story published on Thursday with no changes to text) India rates edge lower to $382-$389 per ton Thailand prices slip to $405-$410 on exchange rate fluctuations, quiet demand Bangladesh's Aush rice output falls for fourth straight year By Sherin Elizabeth Varghese May 22 (Reuters) - India's rice export prices slid to a near two-year low this week, pressured by a weak rupee and rising supplies amid subdued demand, while export markets in other key Asian hubs remained quiet. India's 5% broken parboiled variety was quoted at $382-$389 per ton, down from the last week's $384-$391. Indian 5% broken white rice was priced at $375 to $381 per ton this week. "Export prices are coming down because of falling rupee. Demand is still subdued," said a New Delhi-based dealer with a global trade house. Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. Thailand's 5% broken rice is quoted between $405 to $410 per ton down from $410 last week with traders attributing the price drop to exchange rate fluctuations, rather than demand, which has been quiet. "It's very quiet this year. Indonesia and the Philippines, which used to buy a lot, have enough production," said a Bangkok-based trader. Another trader said customers were waiting for prices, but there was still some activity. "Demand is not that quiet, but it's not so flashy," the trader said, adding that supply was good and another crop will be released in July. Vietnam's 5% broken rice was offered at $397 per metric ton on Thursday, unchanged a week ago, according to Vietnam Food Association. "External demand remains weak and this has also pushed down domestic paddy prices amid the summer-autumn harvest," a trader based in Ho Chi Minh City said. Traders said prices of fresh unhusked paddy in the Mekong Delta range from 5,200 dong to 6,800 dong per kilogram, down from 5,400-7,200 dong a week ago. Bangladesh's Aush rice output fell for a fourth straight year to 2.7 million tonnes, down from 2.9 million tonnes last year, due to erratic weather and reduced acreage. Experts warn the sustained drop could pose long-term food security risks. (Reporting by Sherin Elizabeth Varghese in Bengaluru, Rajendra Jadhav in Mumbai, Chayut Setboonsarng in Bangkok, Khanh Vu in Hanoi and Ruma Paul in Dhaka; Editing by Shailesh Kuber)
Business Recorder
22-05-2025
- Business
- Business Recorder
Asia rice: High supply, weak rupee push India rates to near 2-year low
India's rice export prices slid to a near two-year low this week, pressured by a weak rupee and rising supplies amid subdued demand, while export markets in other key Asian hubs remained quiet. India's 5% broken parboiled variety was quoted at $382-$389 per ton, down from the last week's $384-$391. Indian 5% broken white rice was priced at $375 to $381 per ton this week. 'Export prices are coming down because of falling rupee. Demand is still subdued,' said a New Delhi-based dealer with a global trade house. Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. Thailand's 5% broken rice is quoted between $405 to $410 per ton down from $410 last week with traders attributing the price drop to exchange rate fluctuations, rather than demand, which has been quiet. 'It's very quiet this year. Indonesia and the Philippines, which used to buy a lot, have enough production,' said a Bangkok-based trader. Asia rice: Rates subdued across top exporting hubs on weak demand, ample supply Another trader said customers were waiting for prices, but there was still some activity. 'Demand is not that quiet, but it's not so flashy,' the trader said, adding that supply was good and another crop will be released in July. Vietnam's 5% broken rice was offered at $397 per metric ton on Thursday, unchanged a week ago, according to Vietnam Food Association. 'External demand remains weak and this has also pushed down domestic paddy prices amid the summer-autumn harvest,' a trader based in Ho Chi Minh City said. Traders said prices of fresh unhusked paddy in the Mekong Delta range from 5,200 dong to 6,800 dong per kilogram, down from 5,400-7,200 dong a week ago. Bangladesh's Aush rice output fell for a fourth straight year to 2.7 million tonnes, down from 2.9 million tonnes last year, due to erratic weather and reduced acreage. Experts warn the sustained drop could pose long-term food security risks.
