Saturday, 22/06/2019 16:02 (GMT+7)
Export prices for Indian and Thai rice increased this week on the back of an appreciation in their domestic currencies, while that of Vietnam went down over quiet demand.
Illustration for photo (Source: VNA)
According to Reuters, prices for India’s 5 percent broken parboiled variety were quoted around USD367 - USD370 per tonne, up from last week’s USD365 - USD367.
Export demand is weak and unlikely to bounce back in the next few weeks unless prices correct, said one exporter based at Kakinada in India’s southern state of Andhra Pradesh.
Meanwhile, in Thailand, the world’s second largest rice exporter, the prices widened to USD390 - USD407 a tonne, from USD393 - USD404 a tonne last week. Traders say the price increase can be attributed to a seasonal decline in rice supply.
Thailand’s baht, which reached its highest in nearly six years against the US dollar on June 20th, also boosted prices for the staple.
Demand was uninspiring in Vietnam, where rates for the 5 percent broken rice variety fell to USD340 - USD345 a tonne on June 20th from USD345 - USD350 last week.
Trading activities are quiet this week over low demand, though supplies from the ongoing summer-autumn harvest are abundant, a trader based in Ho Chi Minh City said./.
CPV/VNA