Home ›› 28 May 2022 ›› Asia Biz
Rice export prices in Thailand jumped to their highest in over two months this week on soaring container freight rates, while an appreciation in the rupee and improving demand buoyed prices for the staple in India.
Top exporter India’s 5per cent broken parboiled variety was quoted at $372-$378 per tonne, up from the last week’s $366-$370.
“Demand is good for Indian rice since it is cheaper than other exporting countries,” B.V. Krishna Rao, president of the Rice Exporters Association (REA), said.
The rupee’s appreciation has been forcing exporters to raise prices, said an exporter based at Kakinada in the southern state of Andhra Pradesh.
In Thailand, benchmark 5per cent broken rice prices rose to $480-$490 per tonne from $475-$485 a week earlier, on higher freight rates in a shipping boom.
“The market is quiet but the freight rates are higher, making rice prices higher as well,” a Bangkok-based trader said.
Vietnam’s 5per cent broken rice prices were unchanged from a week earlier at $495-$500 per tonne.
