Rice prices drop in top hubs as supply surges after Indian export relaxations

Quick Summary:

India's 5% broken parboiled variety was quoted at $490-$495 per metric ton this week, the lowest since Aug.24, 2023, amid weak demand and depreciation in the rupee.

"Prices edged lower on strong supplies on the global market after India relaxed its export restrictions," a trader based in Ho Chi Minh City said.

Vietnam's rice shipments in the first nine months of the year rose 8.9% to 6.99 million tons from a year earlier, according to government trade data.

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Article Details

Author / Journalist: Reuters

Category: Business

Markets: IndiaBangladeshThailandVietnam

Topics: Vietnam rice Rice India rice exports Asia rice Parboiled rice

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 10:02:41 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 586 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 22992438

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