AIRLINK 58.60 Increased By ▲ 0.61 (1.05%)
BOP 6.21 Decreased By ▼ -0.01 (-0.16%)
CNERGY 3.99 Decreased By ▼ -0.06 (-1.48%)
DFML 16.01 Increased By ▲ 0.31 (1.97%)
DGKC 67.32 Decreased By ▼ -1.23 (-1.79%)
FCCL 17.55 Decreased By ▼ -0.20 (-1.13%)
FFBL 25.89 Increased By ▲ 0.14 (0.54%)
FFL 9.14 Decreased By ▼ -0.17 (-1.83%)
GGL 9.77 Increased By ▲ 0.03 (0.31%)
HBL 112.50 Increased By ▲ 0.70 (0.63%)
HUBC 115.29 Increased By ▲ 0.49 (0.43%)
HUMNL 6.59 Increased By ▲ 0.15 (2.33%)
KEL 4.22 Decreased By ▼ -0.08 (-1.86%)
KOSM 3.56 Decreased By ▼ -0.02 (-0.56%)
MLCF 37.11 Decreased By ▼ -0.29 (-0.78%)
OGDC 116.40 Decreased By ▼ -0.80 (-0.68%)
PAEL 22.71 Decreased By ▼ -0.19 (-0.83%)
PIAA 10.79 Decreased By ▼ -0.56 (-4.93%)
PIBTL 6.25 Increased By ▲ 0.58 (10.23%)
PPL 104.00 Decreased By ▼ -1.25 (-1.19%)
PRL 26.39 Decreased By ▼ -0.16 (-0.6%)
PTC 9.53 Decreased By ▼ -0.07 (-0.73%)
SEARL 51.99 Decreased By ▼ -1.35 (-2.53%)
SNGP 65.12 Increased By ▲ 0.13 (0.2%)
SSGC 10.93 Decreased By ▼ -0.01 (-0.09%)
TELE 7.21 Increased By ▲ 0.05 (0.7%)
TPLP 11.99 Increased By ▲ 0.12 (1.01%)
TRG 76.85 Increased By ▲ 4.14 (5.69%)
UNITY 20.49 Decreased By ▼ -0.24 (-1.16%)
WTL 1.30 Decreased By ▼ -0.01 (-0.76%)
BR100 6,332 Increased By 45.7 (0.73%)
BR30 21,614 Increased By 27.8 (0.13%)
KSE100 61,914 Increased By 355.2 (0.58%)
KSE30 20,851 Increased By 132.3 (0.64%)

Rice export prices in India this week slipped to their lowest since December 2016 as a weaker rupee allowed exporters to cut rates amid climbing local supply from fresh crops.

Top exporter India's 5 percent broken parboiled variety was quoted at $351-$356 per tonne, down from $353-$358 last week.

The Indian rupee touched a two-month low on Thursday.

"India has again become competitive in the world market," said an exporter based at Kakinada in Andhra Pradesh state.

Domestic rice prices in Bangladesh rose again this week despite good crops and imports, which officials blamed on hoarding by middlemen.

"Stern action will be taken against those who are creating an artificial crisis to make windfall profits," a senior commerce ministry official said.

Bangladesh, traditionally the world's third-biggest rice producer, has become a major buyer to replenish flood-hit domestic stocks, importing mostly from India.

Asia rice: Thai prices slip to 1-1/2-year low on weaker baht

In Vietnam, rates for 5% broken rice fell to $410-$414 a tonne from $415-$420 last week.

"The market is idle this week with high shipping costs as well as a container crunch remaining big problems," said a trader based in Ho Chi Minh City.

"Farmers in the Mekong Delta provinces are accelerating sowing seeds expected to finish by the end of this month to avoid drought and salinity," the trader added. "Major winter-spring crop season is due to complete in February."

Thailand's 5% broken rice prices narrowed to $385-$396 per tonne from $380-$397 last week, as the Thai baht strengthened against the US dollar.

Some traders in Bangkok said the market is relatively quiet as the end of the year approaches, while others said some buyers were rushing to make orders before the year-end.

"As prices have largely eased, there are more opportunities to sell rice to overseas buyers," one trader said.

Comments

Comments are closed.