{"id":5072,"date":"2023-06-23T10:28:08","date_gmt":"2023-06-23T10:28:08","guid":{"rendered":"https:\/\/ricenewstoday.com\/dev\/?p=5072"},"modified":"2023-06-23T10:28:09","modified_gmt":"2023-06-23T10:28:09","slug":"asia-rice-tight-supply-robust-demand-propels-export-prices-to-2-year-peak","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/asia-rice-tight-supply-robust-demand-propels-export-prices-to-2-year-peak\/","title":{"rendered":"Asia rice: Tight supply, robust demand propels export prices to 2-year peak"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><a href=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/06\/image-77.png\"><img decoding=\"async\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2023\/06\/image-77.png\" alt=\"\" class=\"wp-image-131796\"\/><\/a><\/figure>\n\n\n\n<p><strong>Top rice exporters saw rates for the staple grain advance this week to a more than two-year peak on supply concerns and continuing high demand.<\/strong><\/p>\n\n\n\n<p>Vietnam\u2019s 5% broken rice was offered at $495-$505 per tonne, a peak since April 2021, up from $498 last week.<\/p>\n\n\n\n<p>\u201cExporters are rushing to purchase domestic rice to fulfil export contracts, boosting domestic prices amid tight supplies,\u201d a Ho Chi Minh City-based trader said.<\/p>\n\n\n\n<p>Due to unfavourable weather, output from the summer-autumn crop is also not as high as expected, traders said.<\/p>\n\n\n\n<p>Vietnam exported 284,798 tonnes of rice in the first half of June, taking total shipments this year to June 15 to 3.9 million tonnes, customs data showed. Thailand\u2019s 5% broken rice prices rose to $505 per tonne, also an over two-year peak on average, versus $495 last week.<\/p>\n\n\n\n<p>\u201cThere are ships waiting to collect rice bound for Indonesia while new rice product has not entered the market,\u201d a Bangkok-based trader said, adding \u201cexporters are struggling to find enough supply in time.\u201d<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.brecorder.com\/news\/40247999\">Asia rice: Vietnam rice prices jump on low supply; traders flag El Nino risks<\/a><\/strong><\/p>\n\n\n\n<p>Another trader said prices could remain at this level due to rising domestic prices.<\/p>\n\n\n\n<p>Thailand\u2019s commerce minister said last week that Thai rice exports could exceed 8 million tonnes this year, larger than the previous 7.5 million-tonne projection.<\/p>\n\n\n\n<p>Top exporter India\u2019s 5% broken parboiled variety was quoted at $397-$405 per tonne, a peak since Feb. 2021, rising from $390-$398 last week.<\/p>\n\n\n\n<p>\u201cExporters are forced to increase prices because paddy prices are rising. Moreover, the rupee has also strengthened this month, adding additional pressure,\u201d said a New-Delhi-based trader.<\/p>\n\n\n\n<p>India recently raised prices at which it will buy new-season common rice paddy from farmers by 7%.<\/p>\n\n\n\n<p>Neighbouring Bangladesh\u2019s rice production is forecast to increase by 1.8% versus year-on-year to 38.9 million tonnes in the 2023\/24 marketing year, according to the Food and Agriculture Organization\u2019s (FAO) Global Food Outlook report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top rice exporters saw rates for the staple grain advance this week to a more than two-year peak on supply concerns and continuing high demand. Vietnam\u2019s 5% broken rice was offered at $495-$505 per tonne, a peak since April 2021, up from $498 last week. \u201cExporters are rushing to purchase domestic rice to fulfil export [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[46,160],"class_list":["post-5072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-rice","tag-rice-export"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Asia rice: Tight supply, robust demand propels export prices to 2-year peak - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia rice: Tight supply, robust demand propels export prices to 2-year peak - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Top rice exporters saw rates for the staple grain advance this week to a more than two-year peak on supply concerns and continuing high demand. 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