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Indian 5% broken parboiled rice fell to $440-$446 per ton as the rupee hit a record low against the dollar and supplies rose. Vietnamese 5% broken rice was offered at $495-$508, edging lower on fears of reduced Philippine demand.
Trading was described as tame, and Bangladesh plans to import 100,000 tonnes of white rice from Myanmar.
Lower Indian export prices and weak Vietnamese demand from the Philippines point to bearish global rice pricing. The record-low rupee gives Indian exporters room to cut quotes further.
livemint.comReutersDec 19, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Falling Indian and Vietnamese export prices on rising supplies, a record-low rupee and fears of reduced Philippine demand point to weaker global rice sentiment on the day of the drop, which plausibly pressured US rough rice futures.
