Thailand prices dip on quiet market, weaker baht
Congestion at Indian ports has eased – exporter
By Bharat Gautam
March 18 (Reuters) – Rice export prices rose for the Indian
and Vietnamese varieties this week boosted by a pick-up in
demand, while Bangladesh issued a fresh tender to stock up
Top exporter India’s 5% broken parboiled variety
week’s $395-$401, on firm demand and an appreciation in the
“Demand was always there for Indian rice, but some buyers
were not making purchases due to congestion at ports. Since
congestion is eased, they are also buying,” said an exporter
based at Kakinada in the southern state of Andhra Pradesh.
Vietnam’s 5% broken rice
$510-$515 per tonne on Thursday, from $500-$510 a week earlier.
“We are seeing an uptick in demand from foreign buyers
(Philippines, Bangladesh and Indonesia), who are seeking to buy
rice from the winter-spring crop that has the best quality of
the year,” a trader based in Ho Chi Minh City said.
At a meeting on Wednesday, Vietnamese Prime Minister Nguyen
Xuan Phuc told Philippine ambassador Meynardo Los Banos
Montealegre that Vietnam had pledged to ensure long-term and
sustainable rice supplies to the Philippines.
The Philippines has been Vietnam’s largest rice export
Bangladesh, meanwhile, issued another international tender
to purchase 50,000 tonnes of rice, in addition to buying in
state-to-state deals with India, Thailand and Vietnam, while
private traders are allowed to import 1 million tonnes of rice.
Bangladesh, traditionally the world’s third-biggest rice
producer, has turned to imports after repeated floods damaged
its crops and depleted stocks.
Thailand’s benchmark 5% broken rice
eased to $505-$513 per tonne on Thursday, from last week’s
Bangkok-based traders said the market was quiet and the
continued decline in prices was largely due to the exchange
rate, as the Thai baht has weakened against the U.S. dollar.
(Reporting by Rajendra Jadhav in Mumbai, Khanh Vu in Hanoi,
Patpicha Tanakasempipat in Bangkok and Ruma Paul in Dhaka;
Editing by Amy Caren Daniel)
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