Reuters.

HANOI, MUMBAI, BANGKOK AND BANGLADESH: Indian rice export prices fell to their lowest level in 18 months this week, pressured by a depreciation in rupee to a record low and ample supplies.

Top exporter India’s 5% broken parboiled rice was quoted at $431-$440 per ton, the lowest since July 20, 2023, down from $436-$442 last week. Indian 5% broken white rice was quoted $435 to $442 per ton this week. “The market is flooded with rice. There is significantly more rice available for export than the industry anticipated two months ago,” said a Kolkata-based dealer with a global trade house.

India’s rice stocks reached a record 60.9 million metric tons in early January, eight times the government’s target, while the Indian rupee hit a record low against the dollar this week, effectively increasing the margins of exporters. Vietnam’s 5% broken rice was offered at $422 per metric ton, down from $460 a week ago.

Published Date: January 17, 2025