India’s rice rates decrease due to weak demand in Asia
Published on: December 8, 2023.
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Prices of parboiled rice from India have dropped slightly this week due to a slowdown in demand and disruptions caused by a cyclone at a key port. The 5% broken parboiled rice variety is now priced between $497 and $505 per metric ton, compared to $500-$507 last week. The cyclone, named Michaung, caused disruptions to loading operations at Kakinada port in Andhra Pradesh, as well as affecting rice milling in the state. In Vietnam, the price of 5% broken rice remains unchanged at $655-$665 per metric ton. However, trading activity is slow due to high prices, and prices are expected to remain high due to tight supplies and high domestic paddy prices. Thailand’s 5% broken rice prices have softened slightly to $620-$625 per metric ton, compared to $630 quoted last week, as demand has shifted to other Southeast Asian countries.
Sources:
[BRECORDER](https://www.brecorder.com)
