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%)

A lack of fresh buying demand has kept Asia's rice markets muted this week, keeping prices low in both Thailand and Vietnam, while buyers may wait for prices to soften further when a new harvest begins in Vietnam next month, traders said on Wednesday. Last Friday, the Philippines agreed to buy 150,000 tonnes of rice from Vietnam in a tender and could import more to avert a potential spike in prices if adverse weather threatens the local crop.
"The volume is too small to raise prices," said a Vietnamese trader at a European firm in Ho Chi Minh City. Vietnam's 5-percent broken rice eased to $350-$355 a tonne, free-on-board (FOB) basis, from $350-$360 a tonne a week earlier. The 25-percent broken grade fell to $330-$335 a tonne from $350 last Wednesday, after the price floor for the variety was lowered on Monday.
"Buyers are waiting for the new harvest early next month," said the trader, referring to the summer-autumn rice harvest in the Mekong Delta food basket, the country's second-biggest crop. At the tender in Manila, Thailand submitted a price of $419 a tonne, above Vietnam's $410.12 a tonne that matched the buyer's ceiling. "Losing out on the tender further subdues Thailand's rice market," a Thai trader said. "We don't know where to take our rice anymore." Thailand's 5-percent broken white rice stood unchanged in the past week at $370 a tonne, FOB basis, the lowest since May 30, 2014. Prices stood unchanged before the Thai government's rice tender on June 15 at which it will seek to sell around 1 million tonnes. On Tuesday, the Thai Royal Irrigation Department asked farmers to delay growing their main rice crop due to a drought this year.
VIETNAM'S FALLING RICE EXPORTS Vietnam has exported 2.08 million tonnes of rice in the first five months of 2015, down more than 11 percent from a year earlier and just a third of the country's annual target of 7 million tonnes, the Vietnam Food Association said.
China, Vietnam's top rice buyer, has not stepped up its purchase, contributing to the fall in shipments, traders said. Last year, China bought 2.5 million tonnes of Vietnamese rice, or 36 percent of Vietnam's total rice exports, a Vietnamese minister told the parliament earlier this week.

Copyright Reuters, 2015

Comments

Comments are closed.