AVN 64.76 Decreased By ▼ -0.24 (-0.37%)
BAFL 31.18 Increased By ▲ 0.03 (0.1%)
BOP 4.82 Increased By ▲ 0.11 (2.34%)
CNERGY 3.85 Decreased By ▼ -0.03 (-0.77%)
DFML 14.00 Increased By ▲ 0.30 (2.19%)
DGKC 41.65 Increased By ▲ 0.38 (0.92%)
EPCL 46.30 Decreased By ▼ -0.39 (-0.84%)
FCCL 11.40 Decreased By ▼ -0.02 (-0.18%)
FFL 5.06 Increased By ▲ 0.02 (0.4%)
FLYNG 5.80 Decreased By ▼ -0.02 (-0.34%)
GGL 9.91 Decreased By ▼ -0.04 (-0.4%)
HUBC 64.20 Increased By ▲ 0.10 (0.16%)
HUMNL 5.61 Decreased By ▼ -0.04 (-0.71%)
KAPCO 27.82 Increased By ▲ 0.02 (0.07%)
KEL 2.15 Increased By ▲ 0.02 (0.94%)
LOTCHEM 24.50 Increased By ▲ 0.20 (0.82%)
MLCF 21.85 Increased By ▲ 0.45 (2.1%)
NETSOL 84.30 Increased By ▲ 0.10 (0.12%)
OGDC 87.11 Decreased By ▼ -0.83 (-0.94%)
PAEL 10.95 Increased By ▲ 0.05 (0.46%)
PIBTL 4.23 Increased By ▲ 0.05 (1.2%)
PPL 76.78 Decreased By ▼ -0.92 (-1.18%)
PRL 13.73 Increased By ▲ 0.11 (0.81%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 41.60 Decreased By ▼ -0.33 (-0.79%)
TELE 5.95 Increased By ▲ 0.08 (1.36%)
TPLP 15.61 Decreased By ▼ -0.17 (-1.08%)
TRG 111.25 Decreased By ▼ -1.05 (-0.93%)
UNITY 13.84 Decreased By ▼ -0.11 (-0.79%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 4,046 Decreased By -1.8 (-0.05%)
BR30 14,434 Decreased By -33.1 (-0.23%)
KSE100 40,620 Decreased By -53.1 (-0.13%)
KSE30 15,170 Decreased By -20 (-0.13%)
Markets

India, Vietnam rates gain on robust demand; Bangladesh eyes stocks

  • Bangladesh looks to purchase 50,000 tonnes of rice.
  • Thailand prices dip on quiet market, weaker baht.
  • Congestion at Indian ports has eased – exporter.
Published March 18, 2021
Follow us

Rice export prices rose for the Indian and Vietnamese varieties this week boosted by a pick-up in demand, while Bangladesh issued a fresh tender to stock up supplies.

Top exporter India's 5% broken parboiled variety rates rose to $398-$403 per tonne, from last week's $395-$401, on firm demand and an appreciation in the rupee.

"Demand was always there for Indian rice, but some buyers were not making purchases due to congestion at ports. Since congestion is eased, they are also buying," said an exporter based at Kakinada in the southern state of Andhra Pradesh.

Vietnam's 5% broken rice also rose to $510-$515 per tonne on Thursday, from $500-$510 a week earlier.

"We are seeing an uptick in demand from foreign buyers (Philippines, Bangladesh and Indonesia), who are seeking to buy rice from the winter-spring crop that has the best quality of the year," a trader based in Ho Chi Minh City said.

At a meeting on Wednesday, Vietnamese Prime Minister Nguyen Xuan Phuc told Philippine ambassador Meynardo Los Banos Montealegre that Vietnam had pledged to ensure long-term and sustainable rice supplies to the Philippines.

The Philippines has been Vietnam's largest rice export market.

Bangladesh, meanwhile, issued another international tender to purchase 50,000 tonnes of rice, in addition to buying in state-to-state deals with India, Thailand and Vietnam, while private traders are allowed to import 1 million tonnes of rice.

Bangladesh, traditionally the world's third-biggest rice producer, has turned to imports after repeated floods damaged its crops and depleted stocks.

Thailand's benchmark 5% broken rice prices eased to $505-$513 per tonne on Thursday, from last week's $505-$515.

Bangkok-based traders said the market was quiet and the continued decline in prices was largely due to the exchange rate, as the Thai baht has weakened against the US dollar.

Comments

Comments are closed.

India, Vietnam rates gain on robust demand; Bangladesh eyes stocks

Rupee sustains losses, settles at 268.83 against US dollar

Fawad granted bail by Islamabad court

US, India partnership targets arms and AI to compete with China

Peshawar attack: ‘Who brought the terrorists back?’, asks PM Shehbaz

Former CM Parvez Elahi claims his residence raided by police

Prominent businessman Mohammad Lakhani injured in firing incident

Cannot rule out internal assistance for Peshawar bombing: police

Bangladesh to restart spot LNG buying as prices ease

Govt team tries to persuade IMF to unlock lending

Fitch says PKR to further weaken