|
Top
exporter India's 5% broken parboiled variety was quoted at
$363-$367 per tonne, up from last week's $361-$365, with prices
also being supported by an appreciation in the rupee.
"Demand for all types of rice is robust from Asia and Africa,"
said Nitin Gupta, vice president for Olam India's rice business.
Generally, a stronger rupee reduces traders' margin from
overseas sales.
In neighbouring Bangladesh, domestic prices remained high, which
officials blamed on hoarding and warned of strict action against
those amassing the staple for windfall profits.
Meanwhile, Vietnam's 5% broken rice was offered at $420 per
tonne on Thursday, up from $415 a week ago.
"Prices are edging up on tight supplies as the winter-spring
harvest has come to an end," a trader based in Ho Chi Minh City
said, adding that supplies would increase after the
summer-autumn harvest in late-May.
Vietnam's rice exports in the first four months of the year
likely rose 4.4% from a year earlier to 2.05 million tonnes,
while revenue from rice exports in the period fell 6% from a
year earlier.
Thailand's 5% broken rice prices were quoted at $435-$445 per
tonne on Thursday, an increase from $432-$435 last week.
"There has been more demand from Iraq, with many freighters sent
to buy rice and this drove up prices," a Bangkok-based trader
said.
Ships made available by Middle Eastern clients have eased the
burden of high freight costs that were a concern for exporters
earlier, according to traders.
The amount of rice in the market will begin to decrease as
Thailand move towards the rainy season, another trader said.
(Reporting by Roshan Abraham and Seher Dareen in Bengaluru,
Khanh Vu in Hanoi, Rajendra Jadhav in Mumbai, Panu Wongcha-um in
Bangkok, Ruma Paul in Dhaka; Editing by Shounak Dasgupta)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
