Latest news with #TradingCorporationofBangladesh
Business Recorder
3 days ago
- Business
- Business Recorder
Asia rice: Vietnam rates rise on Philippine stockpiling; India prices steady
BENGALURU, MUMBAI, BANGKOK, AND HANOI: Vietnamese rice prices rose this week as buyers in the Philippines stockpiled ahead of an import suspension deadline, while Indian rates held steady near a three-year low. Vietnam's 5% broken rice was offered at $395 a metric ton on Thursday, up from $391 a week ago. Traders said buyers from the Philippines are rushing to make purchases before the country suspends rice imports for 60 days starting September 1, as the government seeks to protect local farmers affected by falling prices during the harvest season. Traders also said that Vietnam's domestic supplies were running low as the summer-autumn harvest ends. India's 5% broken parboiled variety was quoted at $369 to $374 a ton, unchanged from the previous week when it hit its lowest level since August 2022, while Indian 5% broken white rice was priced at $360 to $368 a ton this week. 'The weather is largely conducive for paddy crop, this year's production is expected to be even higher than last year's record harvest,' said a Mumbai-based dealer. Thailand's 5% broken rice tumbled to $355 to $360 a ton, down from last week's price of $370 on weakening demand, traders said. Domestic and overseas demand has been very quiet, with buyers anticipating increased supply in the market, which could drive prices even lower, another Thai trader said. Meanwhile in Bangladesh, prices continue to remain high despite renewed imports and record harvests since November last year, which pushed reserves to nearly 2 million tons by July. Data from the Trading Corporation of Bangladesh showed prices remained 15 to 20% higher compared with the previous year.
Hindustan Times
5 days ago
- Business
- Hindustan Times
ASIA RICE-Vietnam rates rise on Philippine stockpiling; India prices steady
* ASIA RICE-Vietnam rates rise on Philippine stockpiling; India prices steady Philippines will suspend rice imports for 60 days from Sept 1 * Weather conducive for paddy crop, Mumbai-based dealer says * Demand for Thai rice remains quiet, trader says Aug 14 - Vietnamese rice prices rose this week as buyers in the Philippines stockpiled ahead of an import suspension deadline, while Indian rates held steady near a three-year low. Vietnam's 5% broken rice was offered at $395 a metric ton on Thursday, up from $391 a week ago. Traders said buyers from the Philippines are rushing to make purchases before the country suspends rice imports for 60 days starting September 1, as the government seeks to protect local farmers affected by falling prices during the harvest season. Traders also said that Vietnam's domestic supplies were running low as the summer-autumn harvest ends. India's 5% broken parboiled variety was quoted at $369 to $374 a ton, unchanged from the previous week when it hit its lowest level since August 2022, while Indian 5% broken white rice was priced at $360 to $368 a ton this week. "The weather is largely conducive for paddy crop, this year's production is expected to be even higher than last year's record harvest," said a Mumbai-based dealer. Thailand's 5% broken rice tumbled to $355 to $360 a ton, down from last week's price of $370 on weakening demand, traders said. Domestic and overseas demand has been very quiet, with buyers anticipating increased supply in the market, which could drive prices even lower, another Thai trader said. Meanwhile in Bangladesh, prices continue to remain high despite renewed imports and record harvests since November last year, which pushed reserves to nearly 2 million tons by July. Data from the Trading Corporation of Bangladesh showed prices remained 15 to 20% higher compared with the previous year. This article was generated from an automated news agency feed without modifications to text.
Business Recorder
01-08-2025
- Business
- Business Recorder
Asia rice: Vietnam rates hit near 3-month peak on higher demand
BENGALURU, MUMBAI, BANGKOK, DHAKA, AND HANOI: Vietnam rice export rates rose to a near three-month high this week, helped by strong demand, while Indian prices languished near their lowest level in over two years as surplus supplies overshadowed a slight improvement in overseas demand. Vietnam's 5% broken rice was offered at $395-$400 per metric ton on Thursday. The Vietnam Food Association said last week the rice was offered at $381. 'We are seeing a rising number of vessels docking at ports in Ho Chi Minh City for rice loading as demand is strengthening,' a trader based in Ho Chi Minh City said. The trader added that the summer-autumn harvest in the Mekong Delta, Vietnam's largest rice-growing area, has already peaked. India's 5% broken parboiled variety was quoted at $375-$380 per ton, unchanged from the previous week. Indian 5% broken white rice was priced at $372 to $377 per ton this week. 'Buyers are slowly placing orders as they know a further big drop in prices is unlikely. Additionally, a weak rupee is helping exporters,' said a Kolkata-based dealer. Thailand's 5% broken rice fell to a range of $370 to $375 per tonne from prices quoted last week of $380 to $385, traders said, blaming weak demand. 'The demand situation is the same as before. It's quiet,' said a Bangkok-based trader. 'Production is gradually being released and prices can definitely go down further,' said the trader. Another said that more supply was coming in August and buyers would wait until they are satisfied with a price. Meanwhile, domestic rice prices in Bangladesh remained high despite efforts to bring down the cost of the staple grain. The price of coarse rice, the benchmark for tracking rice prices, rose 4.55% from the previous month, selling between 55 taka and 60 taka ($0.4928) per kilogram, according to the Trading Corporation of Bangladesh.
Business Recorder
31-07-2025
- Business
- Business Recorder
Asia rice: Vietnam rates hit near three-month peak on higher demand
Vietnam rice export rates rose to a near three-month high this week, helped by strong demand, while Indian prices languished near their lowest level in over two years as surplus supplies overshadowed a slight improvement in overseas demand. Vietnam's 5% broken rice was offered at $395-$400 per metric ton on Thursday. The Vietnam Food Association said last week the rice was offered at $381. 'We are seeing a rising number of vessels docking at ports in Ho Chi Minh City for rice loading as demand is strengthening,' a trader based in Ho Chi Minh City said. The trader added that the summer-autumn harvest in the Mekong Delta, Vietnam's largest rice-growing area, has already peaked. India's 5% broken parboiled variety was quoted at $375-$380 per ton, unchanged from the previous week. Indian 5% broken white rice was priced at $372 to $377 per ton this week. 'Buyers are slowly placing orders as they know a further big drop in prices is unlikely. Additionally, a weak rupee is helping exporters,' said a Kolkata-based dealer. Asia rice: Prices in India edge up as demand improves; muted activity seen elsewhere Thailand's 5% broken rice fell to a range of $370 to $375 per tonne from prices quoted last week of $380 to $385, traders said, blaming weak demand. 'The demand situation is the same as before. It's quiet,' said a Bangkok-based trader. 'Production is gradually being released and prices can definitely go down further,' said the trader. Another said that more supply was coming in August and buyers would wait until they are satisfied with a price. Meanwhile, domestic rice prices in Bangladesh remained high despite efforts to bring down the cost of the staple grain. The price of coarse rice, the benchmark for tracking rice prices, rose 4.55% from the previous month, selling between 55 taka and 60 taka ($0.4928) per kilogram, according to the Trading Corporation of Bangladesh.
