AIRLINK 175.65 Decreased By ▼ -1.91 (-1.08%)
BOP 11.01 Decreased By ▼ -0.04 (-0.36%)
CNERGY 8.33 Increased By ▲ 0.16 (1.96%)
FCCL 47.10 Decreased By ▼ -0.22 (-0.46%)
FFL 16.02 Decreased By ▼ -0.10 (-0.62%)
FLYNG 27.02 Decreased By ▼ -0.33 (-1.21%)
HUBC 142.45 Decreased By ▼ -4.46 (-3.04%)
HUMNL 13.37 Decreased By ▼ -0.14 (-1.04%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 5.91 No Change ▼ 0.00 (0%)
MLCF 61.50 Decreased By ▼ -0.52 (-0.84%)
OGDC 226.31 Decreased By ▼ -8.37 (-3.57%)
PACE 5.80 No Change ▼ 0.00 (0%)
PAEL 44.79 Decreased By ▼ -1.62 (-3.49%)
PIAHCLA 17.93 Decreased By ▼ -0.19 (-1.05%)
PIBTL 10.45 Decreased By ▼ -0.12 (-1.14%)
POWER 12.10 Increased By ▲ 0.11 (0.92%)
PPL 185.99 Decreased By ▼ -5.81 (-3.03%)
PRL 37.25 Decreased By ▼ -0.07 (-0.19%)
PTC 24.14 Increased By ▲ 0.94 (4.05%)
SEARL 99.95 Decreased By ▼ -0.94 (-0.93%)
SSGC 38.40 Decreased By ▼ -1.31 (-3.3%)
SYM 14.89 Decreased By ▼ -0.14 (-0.93%)
TELE 7.75 Decreased By ▼ -0.09 (-1.15%)
TPLP 11.10 Decreased By ▼ -0.01 (-0.09%)
TRG 66.00 Decreased By ▼ -1.29 (-1.92%)
WAVESAPP 11.00 Decreased By ▼ -0.35 (-3.08%)
WTL 1.36 No Change ▼ 0.00 (0%)
YOUW 3.82 Increased By ▲ 0.05 (1.33%)
BR100 12,826 Increased By 19.4 (0.15%)
BR30 38,861 Decreased By -842.2 (-2.12%)
KSE100 118,792 Decreased By -146.5 (-0.12%)
KSE30 36,779 Increased By 22.6 (0.06%)

BENGALURU/MUMBAI/BANGKOK/HANOI/BANGLADESH: Prices of rice exported from Thailand and Vietnam slipped this week on slow buying as traders await import policy changes from their major buyer Philippines to take effect, while high freight rates hit African demand for the Indian variety.

Thailand’s 5% broken rice rates dropped to $585 per ton on Thursday, their lowest level since April 25, and were down from $595 last week. “The Philippines is considering changing import policy and lowering of import tax.

So exporters are slowing down in buying rice,” a Bangkok-based trader said. A new supply of rice should enter the market this month, the trader said, adding that it could lead to a further price drop in the coming weeks.

Vietnam’s 5% broken rice prices were offered at $575 per ton on Thursday, down from a range of $575-$580 a week earlier, traders said. “Trade is slow as buyers are waiting for the Philippines’ tariff cut to take effect,” a trader based in Ho Chi Minh City said. Vietnam exported 650,000 metric tons of rice in June, up 5.7% against the same month a year earlier, government data showed.

Top exporter India’s 5% broken parboiled variety was quoted at $541-$548 per ton this week, unchanged from last week. “African buyers are very price-sensitive and they are holding back purchases due to rising freight charges,” said an exporter based in Kakinada in southern Andhra Pradesh state.

The Baltic Exchange’s main sea freight index was near a two-month high this week. Meanwhile, despite Bangladesh approving the import of nearly 2 million tons of rice, no rice had been brought into the country as of last April, according to officials from the food ministry.

The government is struggling to control prices of the staple grain for the nation as rice prices have stayed elevated despite good yield and stocks.

Comments

Comments are closed.