Prices of rice increase in India and Thailand due to higher demand and reduced supplies
Published on: December 14, 2023.
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Prices of Parboiled Rice Increase in Top Rice Exporting Countries
The prices of parboiled rice exported from top rice exporting countries have increased this week. India, one of the largest rice exporters, has seen a rise in prices due to improved demand and concerns over production. The 5% broken parboiled variety from India is now quoted at $499 to $506 per ton, compared to last week’s range of $497 to $505.
This increase in prices can be attributed to the government’s increased support price for purchasing paddy from farmers, which has lifted export prices. According to a Kolkata-based exporter, this has led to a rise in the cost of paddy.
Thailand, another major player in the rice export market, has also experienced a price surge. The 5% broken rice prices from Thailand have reached their highest level since August, reaching $640 per ton compared to last week’s range of $620 to $625. The price increase is driven by demand from Southeast Asian markets such as Indonesia and the Philippines, which are expecting shipments within the month. Traders anticipate that the prices will continue to rise or remain strong towards the end of the year due to limited supply entering the market.
Vietnam, known for its rice exports, has seen a relatively stable market. The 5% broken rice from Vietnam is currently offered at $655 to $660 per metric ton, similar to the prices of the previous week. Trading activity remains quiet due to tight supplies, and buyers are hesitant to place new orders due to the relatively high prices. Traders expect supplies to increase in March next year, when farmers harvest the winter-spring crop.
In Bangladesh, the government plans to procure an additional 200,000 tons of rice from local farmers in the current harvesting season to boost reserves. The government initially aimed to procure 700,000 tons of rice locally.
Overall, the prices of parboiled rice in the top exporting countries have experienced fluctuations due to factors such as improved demand, concerns over production, and limited supplies. To stay up-to-date with rice prices and explore more about the rice industry, visit [Source] for more information.
Source: [Brecorder.com](https://www.brecorder.com)
