AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

MUMBAI/ HANOI /BANGKOK/BANGLADESH: Prices of rice exported from top hub India fell for a third straight week, hitting a 15-month low, due to rupee depreciation and increased supply.

India’s 5% broken parboiled variety was quoted at $440-$447 per metric ton this week, the lowest since July 2023 and down from last week’s $442-$449.

Indian 5% broken white rice was quoted at $440-$450 per ton. The rupee has been falling over the past few days, prompting traders to lower export prices, a Kolkata-based trader said.

“Demand from African countries is strong, as they are now able to purchase rice at much lower prices than they were paying a month ago,” the trader said.

Last month, India scrapped the export tax on parboiled rice and removed the floor price of $490 a metric ton for the export of non-basmati white rice to boost exports.

Vietnam’s 5% broken rice was offered at $520-$525 per metric ton, unchanged from a week ago, traders based in the Mekong Delta region, the country’s rice bowl, said.

“Prices are stable amid dwindling supplies and concerns over an approaching storm that may cause rains,” said a trader based in An Giang province. “From the bidding result earlier this week, Bulog will buy over 80,000 tons from Vietnam, expected to be delivered in November and December.”

Vietnam exported 800,000 metric tons of rice in October, up 29.1% from the same month a year earlier, government data showed. Thailand’s 5% broken rice was quoted at $490 per metric ton, similar to last week’s $485-$495 range, due to the dollar’s appreciation after US elections, traders said.

Demand is stable, just seeing regular customers, said a Bangkok-based trader. Elsewhere, Bangladesh’s state grains buyer has issued an international tender to purchase 50,000 metric tons of rice, traders said on Tuesday. Floods in Bangladesh have destroyed an estimated 1.1 million metric tons of rice, according to data from the agriculture ministry.

Comments

Comments are closed.