Asia Rice India Prices Fall For Third Week On Weak Demand

1. Asia Rice: India Prices Fall For Third Week On Weak Demand Asia Rice: India Prices Fall For Third Week On Weak Demand India is regarded as the top hub and controls about 40% of the world's rice trade. India’s rice rates fell for a 3rd straight week due to sluggish demand. Meanwhile, Vietnam’s rice rates eased off and fell from the 2-year highs in quiet trading after a long holiday. Rice Rates In India And Vietnam Rice Rates In India And Vietnam On Thursday, the price for India's 5% broken parboiled variety was quoted at $376-$380 per tonne, down from $378-$382 the previous week. Buyers are delaying purchases because prices are dropping and they want to see how much further prices can fall, according to an exporter based in Kakinada, Andhra Pradesh. The price of Vietnam's 5% broken rice was $485 to $495 per tonne, down from $495 to $500 a week earlier—a level last witnessed in April 2021. A trader based in Ho Chi Minh City mentioned, “Trading activity has not picked up following a long holiday that ended on Wednesday.” As per data from the Government’s General Statistics Office, April exports from Vietnam almost doubled y/y to 1.1 million tonnes. Also, shipments in the first 4 months rose 43.6% from the previous year, valued at $1.56 billion.

2. Rice Rice Rates In Bangladesh And Thailand Rates In Bangladesh And Thailand According to officials from the agriculture ministry, Bangladesh's output of rice from the summer crop is likely to surpass the goal and reach 22 million tonnes as farmers increased their acreage to profit from rising prices. This week, the retail cost of coarse rice varied between 65 and 70 takas ($0.6107 and $0.6576) per kilogram. Typically, more than half of Bangladesh's annual output of about 35 million tonnes comes from the summer-sown crop, or "Boro." The cost of 5% broken rice in Thailand decreased to around $485 per tonne. Last week, prices soared to a more than two-month high of $490 to $495 per tonne, propelled by Indonesian demand and local supplies that were running low as the harvest season came to an end. Following an increase in orders since last week, exporters were still completing shipments to Indonesia. According to a rice trader in Bangkok, "Prices should stay at this level for a while as supply slows near the end of the harvesting period." If you are a Rice Importer wishing to Buy Rice In Bulk or a Rice Exporter willing to Export Bulk Rice, then Tradologie.com is the right platform for you. Tradologie is a global digital trade hub that facilitates bulk agro-commodities trade in a transparent manner. Through Tradologie’s AI-based platform, buyers and sellers can connect directly with each other in real-time, and negotiate prices to get the best deals, without the involvement of any middlemen. Hence, ensuring the best rates for both buyers and sellers on the platform, with an overall major reduction in the cost of trade by close to 10%. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.