Asia rice: India rates at one-year high as weather threatens yields in key hubs

MUMBAI, DHAKA, BANGKOK, HANOI AND BENGALURU: Export prices of Indian rice extended gains to a one-year high this week on concerns that below-average rainfall could hurt crop output, while Vietnamese traders warned that lower Mekong River flows and weather risks could weigh on future productivity.

India’s 5percent broken parboiled variety was quoted at USD366-USD371 per ton this week, up from last week’s USD364-USD369. Indian 5percent broken white rice was priced at USD362 to USD367 per ton.

While demand from African buyers remained modest, supply concerns still abound as the country is on course for its weakest monsoon in nearly two decades in the face of a strengthening El Nino weather phenomenon.