JavaScript is off. Please enable to view full site.

Asia rice-Indian rates ease as supplies rise; Vietnam, Thai rates steady

Asia rice-Indian rates ease as supplies rise; Vietnam, Thai rates steady

Friday, April 08, 2022, 09:47 GMT+7
Asia rice-Indian rates ease as supplies rise; Vietnam, Thai rates steady
A farmer harvests rice at a paddy field outside Hanoi October 11, 2012. Photo: Reuters

Export prices of rice in India dipped this week as supplies increased following the extension of a government scheme to provide subsidised grains, while rates in Vietnam and Thailand were mostly flat amid softer demand and rising output.

Top exporter India's 5% broken parboiled variety was quoted at $365-$369 per tonne this week, down from last week's $367-$370.

"In the open market supplies have improved as government has started distributing free rice and wheat to poor people. Local prices are coming under pressure," said an exporter based in Kakinada in the southern state of Andhra Pradesh.

Thailand's 5% broken rice prices were quoted at $408-$412 per tonne, not far from last week's $408-$410.

Traders said there has been a slight increase in demand but not enough to impact prices as shipping and logistic costs have declined slightly, "maybe due to stabilization after initial shock from the war in Europe."

More rice from recent harvests is also entering the market, traders added.

There is also a steady demand for animal feed in the international and domestic market, a rice trader said.

Vietnam's 5% broken rice were offered at $400-$415 per tonne on Thursday, unchanged from a week ago.

"Supplies are building up, but export activity is quiet as the shipping cost is very high," a trader based in Ho Chi Minh City said.

Farmers in the Mekong Delta have harvested around 75% of the winter-spring crop, the largest harvest of the year, traders said.

Vietnam exported 1.5 million tonnes of rice valued at $731 million in the first quarter this year, up 26.3% in terms of volume and up 12.9% in terms of value year on year, government data showed on Thursday.

Meanwhile, domestic rice prices in Bangladesh stay elevated despite good crops, while the government offered subsidised grain to poor people.

Reuters

More

Read more

;

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Latest news