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Business Recorder
7 hours ago
- Business
- Business Recorder
Asia rice: Indian rates fall to two-year low on robust rains, weaker rupee
Indian rice export prices fell to their lowest level in two years this week due to depreciation of the rupee and expectations that a second year of robust monsoon rains would lead to another bumper crop, while Thailand saw muted demand. India's 5% broken parboiled variety was quoted at $380-$386 per ton, down from the last week's $382-$389. Indian 5% broken white rice was priced at $373 to $378 per ton this week. 'India is poised to harvest another bumper crop if monsoon rains remain conducive. This will add to already overflowing stocks,' said a Kolkata-based trader. The country last month raised the price at which it will buy the new-season common rice paddy variety from local farmers by 3%, the lowest increase in five years, as New Delhi struggles to manage overflowing granaries after last year's record harvest. Meanwhile, Thailand's 5% broken rice held at $410 per tonne, from $405-$410 per tonne last week. Asia rice: Rates subdued across top exporting hubs on weak demand, ample supply 'Demand is not good at all,' while supply has been ample, said a Bangkok-based trader. 'The Philippines and Indonesia are not buying large lots this year.' Vietnam's 5% broken rice was offered at $396 per metric ton, unchanged from a week ago, according to Vietnam Food Association. 'The Philippines is seeking to diversify its sources of rice supplies and this might have a certain impact on Vietnam as the Philippines is the largest buyer,' a trader based in Ho Chi Minh City said. The trader, however, said Vietnam is also seeking to increase the proportion of high-quality rice for markets such as Japan and Europe at higher prices. 'We have noticed that the Philippines has cut down on their purchases from Vietnam,' another trader based in the city said. State media reported on Thursday Vietnam's rice exports in May were estimated at 1.1 million tons, raising total shipments in the January-May period to 4.5 million tons.
Mint
23-05-2025
- Business
- Mint
ASIA RICE-High supply, weak rupee push India rates to near 2-year low
(Repeats story published on Thursday with no changes to text) India rates edge lower to $382-$389 per ton Thailand prices slip to $405-$410 on exchange rate fluctuations, quiet demand Bangladesh's Aush rice output falls for fourth straight year By Sherin Elizabeth Varghese May 22 (Reuters) - India's rice export prices slid to a near two-year low this week, pressured by a weak rupee and rising supplies amid subdued demand, while export markets in other key Asian hubs remained quiet. India's 5% broken parboiled variety was quoted at $382-$389 per ton, down from the last week's $384-$391. Indian 5% broken white rice was priced at $375 to $381 per ton this week. "Export prices are coming down because of falling rupee. Demand is still subdued," said a New Delhi-based dealer with a global trade house. Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. Thailand's 5% broken rice is quoted between $405 to $410 per ton down from $410 last week with traders attributing the price drop to exchange rate fluctuations, rather than demand, which has been quiet. "It's very quiet this year. Indonesia and the Philippines, which used to buy a lot, have enough production," said a Bangkok-based trader. Another trader said customers were waiting for prices, but there was still some activity. "Demand is not that quiet, but it's not so flashy," the trader said, adding that supply was good and another crop will be released in July. Vietnam's 5% broken rice was offered at $397 per metric ton on Thursday, unchanged a week ago, according to Vietnam Food Association. "External demand remains weak and this has also pushed down domestic paddy prices amid the summer-autumn harvest," a trader based in Ho Chi Minh City said. Traders said prices of fresh unhusked paddy in the Mekong Delta range from 5,200 dong to 6,800 dong per kilogram, down from 5,400-7,200 dong a week ago. Bangladesh's Aush rice output fell for a fourth straight year to 2.7 million tonnes, down from 2.9 million tonnes last year, due to erratic weather and reduced acreage. Experts warn the sustained drop could pose long-term food security risks. (Reporting by Sherin Elizabeth Varghese in Bengaluru, Rajendra Jadhav in Mumbai, Chayut Setboonsarng in Bangkok, Khanh Vu in Hanoi and Ruma Paul in Dhaka; Editing by Shailesh Kuber)
Business Recorder
22-05-2025
- Business
- Business Recorder
Asia rice: High supply, weak rupee push India rates to near 2-year low
India's rice export prices slid to a near two-year low this week, pressured by a weak rupee and rising supplies amid subdued demand, while export markets in other key Asian hubs remained quiet. India's 5% broken parboiled variety was quoted at $382-$389 per ton, down from the last week's $384-$391. Indian 5% broken white rice was priced at $375 to $381 per ton this week. 'Export prices are coming down because of falling rupee. Demand is still subdued,' said a New Delhi-based dealer with a global trade house. Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. Thailand's 5% broken rice is quoted between $405 to $410 per ton down from $410 last week with traders attributing the price drop to exchange rate fluctuations, rather than demand, which has been quiet. 'It's very quiet this year. Indonesia and the Philippines, which used to buy a lot, have enough production,' said a Bangkok-based trader. Asia rice: Rates subdued across top exporting hubs on weak demand, ample supply Another trader said customers were waiting for prices, but there was still some activity. 'Demand is not that quiet, but it's not so flashy,' the trader said, adding that supply was good and another crop will be released in July. Vietnam's 5% broken rice was offered at $397 per metric ton on Thursday, unchanged a week ago, according to Vietnam Food Association. 'External demand remains weak and this has also pushed down domestic paddy prices amid the summer-autumn harvest,' a trader based in Ho Chi Minh City said. Traders said prices of fresh unhusked paddy in the Mekong Delta range from 5,200 dong to 6,800 dong per kilogram, down from 5,400-7,200 dong a week ago. Bangladesh's Aush rice output fell for a fourth straight year to 2.7 million tonnes, down from 2.9 million tonnes last year, due to erratic weather and reduced acreage. Experts warn the sustained drop could pose long-term food security risks.
Business Recorder
15-05-2025
- Business
- Business Recorder
Asia rice: Rates subdued across top exporting hubs on weak demand, ample supply
BENGALURU/MUMBAI/BANGKOK/HANOI AND DHAKA: Rice export prices in major Asian hubs were subdued this week, weighed down by weak demand and higher supplies, with Indian rates pinned near their lowest level in nearly two years. India's 5% broken parboiled variety was quoted at $384-$391 per metric ton, unchanged from last week, while the 5% broken white rice was priced at $378 to $385 per ton. 'Prices are stabilizing after a sharp correction in the last two months. Hopefully, this stability will bring back buyers who have been on the sidelines,' said a New Delhi-based dealer with a global trade house. Thailand's 5% broken rice was quoted at $410 per ton on Thursday, slightly down from $420 per ton last week. Traders attributed the drop to the exchange rate, saying that demand has generally been quite for some time. On the other hand, supply has been robust, which has further weakened prices, a Bangkok based trader said. Vietnam's 5% broken rice was offered at $397 per metric ton on Thursday, little changed from $398 a week ago, according to Vietnam Food Association. 'Supplies from the summer-autumn harvest is building up, but processors and exporters are not yet rushing to buy due to weak external demand,' a trader based in Ho Chi Minh City said.
The Star
11-05-2025
- Business
- The Star
Asia Rice - India rates slide to near two-year low on weak rupee, lower demand; Vietnam prices edging higher
HANOI (Reuters): Indian rice export prices dropped to a near two-year low this week, weighed down by weaker demand and depreciation in the rupee, while Thai rates rose to a more than two-month peak. India's 5% broken parboiled variety was quoted at $384-$391 per metric ton, down from the last week's $390-$397. Indian 5% broken white rice was priced at $378 to $385 per ton this week. "This week rupee again started losing against the dollar, which helped traders to lower export prices. Demand is still weak from African buyers," said a Kolkata-based exporter. Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. Thailand's 5% broken rice rose to $420 per ton from $410 quoted in the last two weeks due to baht appreciation, but demand was still quiet, according to traders. There have been no big purchases yet, but the conflict between India and Pakistan could affect supply, said a Bangkok-based trader. Supply in Thailand is expected to be good this year because of favourable water levels, the trader said. Meanwhile, Vietnam's 5% broken rice was offered at $398 per ton on Thursday, slightly up from $395 two weeks ago, according to the Vietnam Food Association. Vietnamese markets were closed last week for national holidays. "The government's move to buy rice for stockpiling has supported prices a bit, but generally, demand remains weak and so is trading activity," a trader based in Ho Chi Minh City said. Government data released earlier this week showed Vietnam's rice exports in the first four months of this year rose 8.4% from a year earlier to 3.43 million metric tons. Export value, however, fell 13.3% to $1.77 billion. Domestic rice prices in Bangladesh edged lower this week as newly harvested crops began reaching the markets, offering some relief after a 20% surge in prices over the past year, traders said. (Reporting by Brijesh Patel in Bengaluru, Rajendra Jadhav in Mumbai, Panu Wongcha-um in Bangkok and Ruma Paul in Dhaka; Editing by Eileen Soreng) - Reuters
