AIRLINK 74.70 Increased By ▲ 0.41 (0.55%)
BOP 4.97 Increased By ▲ 0.02 (0.4%)
CNERGY 4.35 Decreased By ▼ -0.02 (-0.46%)
DFML 40.20 Increased By ▲ 1.40 (3.61%)
DGKC 85.76 Increased By ▲ 0.94 (1.11%)
FCCL 21.34 Increased By ▲ 0.13 (0.61%)
FFBL 34.21 Increased By ▲ 0.09 (0.26%)
FFL 9.65 Decreased By ▼ -0.05 (-0.52%)
GGL 10.40 Decreased By ▼ -0.02 (-0.19%)
HBL 113.60 Increased By ▲ 0.60 (0.53%)
HUBC 137.30 Increased By ▲ 1.10 (0.81%)
HUMNL 11.56 Decreased By ▼ -0.34 (-2.86%)
KEL 4.80 Increased By ▲ 0.09 (1.91%)
KOSM 4.78 Increased By ▲ 0.34 (7.66%)
MLCF 37.75 Increased By ▲ 0.10 (0.27%)
OGDC 140.40 Increased By ▲ 4.20 (3.08%)
PAEL 25.44 Increased By ▲ 0.34 (1.35%)
PIAA 20.68 Increased By ▲ 1.44 (7.48%)
PIBTL 6.63 Decreased By ▼ -0.08 (-1.19%)
PPL 123.10 Increased By ▲ 1.00 (0.82%)
PRL 26.65 No Change ▼ 0.00 (0%)
PTC 13.98 Increased By ▲ 0.05 (0.36%)
SEARL 58.30 Increased By ▲ 1.08 (1.89%)
SNGP 67.10 Decreased By ▼ -0.50 (-0.74%)
SSGC 10.35 Increased By ▲ 0.10 (0.98%)
TELE 8.43 Increased By ▲ 0.03 (0.36%)
TPLP 11.12 Decreased By ▼ -0.01 (-0.09%)
TRG 64.31 Increased By ▲ 1.50 (2.39%)
UNITY 26.56 Increased By ▲ 0.06 (0.23%)
WTL 1.45 Increased By ▲ 0.10 (7.41%)
BR100 7,842 Increased By 31.5 (0.4%)
BR30 25,366 Increased By 216.4 (0.86%)
KSE100 75,138 Increased By 181.3 (0.24%)
KSE30 24,164 Increased By 80.9 (0.34%)

Prices of rice exported from India and Vietnam rose this week, with rates for the relatively cheaper Indian variety climbing to their highest in nearly two years, on robust demand for the staple even as global supply risks persist.

Demand has been robust for the past few weeks as Indian prices are lower than competitors, said a Mumbai-based dealer with a global trade house.

India’s 5% broken parboiled variety was quoted at $397-$404 per tonne versus last week’s $395-$402.

India’s 2022 exports jumped to a record despite government curbs as buyers continued to snap up competitive offers from the world’s top exporter, according to government and industry officials.

To keep a lid on domestic prices, India plans to continue with a ban on broken rice exports and a 20% tax on overseas shipments of white rice.

Domestic prices of rice stay elevated in neighbouring Bangladesh despite good crops and reserves, with officials blaming hoarding by middlemen. Bangladesh recently also allowed private traders to import rice to cool local prices.

Asia rice: India rates at near 2-year high on firm demand

Vietnam’s 5% broken rice prices rose to $457 per tonne from $455-$460 last week.

“Demand is still high as many are buying amid the uncertainty of the global situation,” said a trader based in the Mekong Delta province of Kien Giang.

“In the first half of this month, shipments to Africa and Malaysia were much lower than the previous year, while those to China and the Philippines witness a sharp increase.”

Grain shipments from the Black Sea are continuing under a UN-backed deal, but that agreement is up for renegotiation this week and there’s the threat the Russia-Ukraine conflict will escalate.

Thailand’s 5% broken rice prices were little changed at $460 per tonne, amid muted demand.

Fresh supply expected at the beginning of March to April could further weaken prices, a trader said.

Comments

Comments are closed.