BENGALURU/BANGKOK/HANOI/MUMBAI/DHAKA: Prices of rice exported from top Asian hubs jumped this week on solid demand, while Vietnamese traders also flagged high shipping costs due to the Ukraine crisis.
Thailand’s 5% broken rice prices rose to $415-$428 per tonne, on average a peak since late June, from $400-$403 a week ago.
As corn and wheat prices rise, animal feed makers were looking to use more broken rice, pushing up prices across the board, Bangkok-based traders said.
Another trader said he recently received interest from buyers in Europe, the United States, Iraq and Iran for different grades of Thai white rice.
Demand from Hong Kong has also increased, the trader said, with concerns over plans for a city-wide lockdown sparking panic buying by residents. Thailand exported 459,752 tonnes of rice worth $234 million in January, up 8.92% from the same period last year, the commerce ministry said.
Rates for top exporter India’s 5% broken parboiled variety rose to $371-$378 per tonne from last week’s $370-$376, also a peak since mid-June.
“Consumers are trying to build stockpile due to the rally in wheat and corn prices. Demand is improving for rice,” said an exporter based at Kakinada in southern state of Andhra Pradesh.
Comments
Comments are closed for this article.