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Asia rice: India rice prices hit 8-month low

BENGALURU/ MUMBAI/ BANGKOK/HANOI AND BANGLADESH: Thai prices fell to their lowest level in over a year as bidders were forced to reduce their high prices in a recent auction held by Indonesia, while India’s rice export prices extended losses this week to hit an eight-month low.

Top exporter India’s 5% broken parboiled variety was quoted at $528-$534 per ton this week, the lowest since mid-January, and down from the last week’s $535-$540.

“Demand has been very weak for the past few weeks. Buyers are anticipating a reduction in India’s export duty structure and are postponing purchases,” said Krishna Rao, president of the country’s Rice Exporters Association.

https://www.brecorder.com/news/40322164/asia-rice-india-rice-prices-hit-8-month-low QR Code

Published Date: September 13, 2024

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