India rice rates decrease due to weak demand in Asia
Published on: December 8, 2023.
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Prices of parboiled rice from India, along with rates in Thailand and Vietnam, have experienced fluctuations as demand and other factors affected the market. India’s 5% broken parboiled variety saw a slight decrease to $497-$505 per metric ton compared to last week’s $500-$507. This decline in prices can be attributed to buyers pausing after making significant purchases in recent weeks. However, cyclone-related disruptions to the Kakinada port in Andhra Pradesh affected loading operations and rice milling in the state, contributing to the decrease in prices.
Meanwhile, Vietnam’s 5% broken rice remained stable at $655-$665 per metric ton. Trading activity has been quiet due to high prices, although tight supplies and high domestic paddy prices suggest that prices are unlikely to fall in the near future. During the December 1-30 period, 82,900 tons of rice were scheduled for loading at Ho Chi Minh City port, with most of it destined for the Philippines.
In Thailand, the 5% broken rice prices decreased slightly to $620-$625 per metric ton. This adjustment can be attributed to a shift in demand towards other Southeast Asian countries. Despite this slight decrease, high rates kept buyers from making significant purchases.
Overall, the prices of parboiled rice in these top export countries have experienced changes due to various factors such as demand, cyclone disruptions, and domestic prices. However, it is important to note that prices are still relatively high, which may affect trading activity in the market.
Source: [Link to the source article](https://www.brecorder.com)
