Global Rice News

India’s Parboiled Rice Export Prices Hit Record Highs as Vietnam Prices Slip

Export prices for parboiled rice from India, the top exporting hub, have reached fresh record highs due to limited supplies and a slight improvement in demand. Meanwhile, prices in Vietnam have experienced a decline as stocks continue to build up.

India’s 5% broken parboiled rice is now quoted at a record $546-$554 per ton, up from last week’s $542-$550. Despite concerns from buyers about the higher prices, Indian rice remains cheaper than offerings from other regions. Demand has slightly improved this week compared to last week, according to a Kolkata-based exporter.

In contrast, Vietnam’s 5% broken rice is offered at $625-$630 per metric ton, down from $637-$640 a week ago. The buildup of supplies during the harvest of the winter-spring crop, which is the largest harvest of the year, has led to this decline in prices, according to a trader based in Ho Chi Minh City. Some traders have also slowed down their purchases of paddy rice from farmers, anticipating further declines in domestic prices.

Thailand’s 5% broken rice prices are quoted at $615 per ton, slightly higher than last week’s $610 per ton. This price increase is attributed to fluctuations in the local currency, while demand remains weak with no significant deals taking place. However, new supplies are expected to gradually enter the market next month.

Meanwhile, in an effort to cool domestic prices, Bangladesh plans to import 500,000 tonnes of rice by June. Earlier this month, the government reduced duties on rice imports from 63% to 15%.

Overall, the parboiled rice market in India is thriving, with prices reaching new highs, while Vietnam experiences a decrease in prices due to stock buildup. Thailand faces stable prices and anticipates new supplies entering the market soon. In Bangladesh, efforts are being made to address high domestic prices through rice imports.

Source: [Link to the source article](https://www.brecorder.com)