India's rice export prices fell this week due to sluggish demand and depreciation in the rupee to a record low, while Vietnam rates edged higher, reports Reuters.
Top exporter India's 5 per cent broken parboiled variety was quoted at $539-$545 per ton, down from last week's $543-$551.
"Asian and African buyers are not active in the market; they are postponing purchases anticipating a drop in prices," said a New Delhi-based dealer with a global trade house.
Indian rupee this week depreciated to a record low, increasing exporters' return from overseas sales.
Vietnam's 5 per cent broken rice was offered at $565 per ton, up from $560 a week ago, traders said.
There are growing demands from Philippine clients, while exports to the Philippines and Indonesia have increased in recent days, said a Ho Chi Minh City-based trader.
"Supplies are stable, but the quality of rice is not good due to continuous rainfall in the Mekong Delta."
Lacklustre demand drags down India rice export rates
FE Team | Published: August 09, 2024 00:09:01
Lacklustre demand drags down India rice export rates
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