AIRLINK 172.50 Decreased By ▼ -3.23 (-1.84%)
BOP 13.25 Increased By ▲ 0.13 (0.99%)
CNERGY 7.43 Decreased By ▼ -0.11 (-1.46%)
FCCL 43.50 Decreased By ▼ -0.41 (-0.93%)
FFL 14.98 Decreased By ▼ -0.03 (-0.2%)
FLYNG 26.45 Decreased By ▼ -0.45 (-1.67%)
HUBC 129.75 Decreased By ▼ -0.48 (-0.37%)
HUMNL 13.30 Decreased By ▼ -0.04 (-0.3%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 6.00 Decreased By ▼ -0.06 (-0.99%)
MLCF 55.60 Decreased By ▼ -0.43 (-0.77%)
OGDC 213.75 Decreased By ▼ -1.02 (-0.47%)
PACE 5.93 Decreased By ▼ -0.05 (-0.84%)
PAEL 41.25 Increased By ▲ 0.35 (0.86%)
PIAHCLA 16.68 Increased By ▲ 0.36 (2.21%)
PIBTL 9.63 Decreased By ▼ -0.12 (-1.23%)
POWER 11.55 Decreased By ▼ -0.21 (-1.79%)
PPL 182.00 Increased By ▲ 0.52 (0.29%)
PRL 34.24 Increased By ▲ 0.02 (0.06%)
PTC 22.86 Decreased By ▼ -0.20 (-0.87%)
SEARL 94.40 Decreased By ▼ -1.32 (-1.38%)
SILK 1.16 Increased By ▲ 0.02 (1.75%)
SSGC 35.30 Decreased By ▼ -0.15 (-0.42%)
SYM 15.70 Decreased By ▼ -0.05 (-0.32%)
TELE 7.79 Decreased By ▼ -0.08 (-1.02%)
TPLP 10.90 Decreased By ▼ -0.08 (-0.73%)
TRG 60.80 Increased By ▲ 0.30 (0.5%)
WAVESAPP 10.70 Decreased By ▼ -0.11 (-1.02%)
WTL 1.32 Decreased By ▼ -0.03 (-2.22%)
YOUW 3.80 Increased By ▲ 0.03 (0.8%)
BR100 12,047 Decreased By -7 (-0.06%)
BR30 36,424 Decreased By -43.2 (-0.12%)
KSE100 114,105 Decreased By -251.7 (-0.22%)
KSE30 35,199 Decreased By -147.9 (-0.42%)

Export prices of rice from Thailand rose this week, helped by demand from the Middle East and South Asia, while rates for the staple from top exporter India eased on a weaker rupee.

Thailand’s 5% broken rice prices rose to $422-$435 per tonne from $420-$435 a week ago.

“There is new demand from Bangladesh of 200,000-300,000 tonnes and deliveries to Iraq,” said a Bangkok-based trader.

Another trader said there was demand coming in from Iran, but only a few Thai companies had the goods manufacture practice (GMP) requirements to service that market.

India’s 5% broken parboiled variety was quoted at $376 to $384 per tonne, down from $385-$392 last week, amid the rupee’s dive, and expectations of more supply following the government’s decision to extend a free food programme for the poor.

The rupee touched a record low on Sept. 28, increasing traders’ margin from overseas sales and allowing them to reduce export rates.

Asia rice: India rates near 1-1/2 year high as traders grapple with port logjams

“A few traders were expecting the government won’t continue free food beyond September. But with the government distribution for another three months, the market would be oversupplied,” said an exporter at Kakinada in the southern state of Andhra Pradesh.

Meanwhile, India’s recent restrictions on exports seemed to drive expectations of more demand from other hubs such as Vietnam.

Vietnam’s 5% broken rice prices rose to $420-$425 per tonne from $400-$410 a week ago, with traders also attributing the gain to the end of the summer-autumn harvest.

However, “though prices are higher, not many new deals have been signed recently as buyers remain quiet while sellers are still waiting for further price hike,” a trader in Ho Chi Minh City said.

Preliminary data showed 37,400 tonnes of rice to be loaded at Ho Chi Minh City port on Oct. 1-9, with most of it bound to the Philippines and Bangladesh.

Comments

Comments are closed.