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Indian 5% broken parboiled rice quoted at $541-$548/t, down from $544-$552 last week, as container freight surge pushed buyers to break bulk and then caused a pause. Thai 5% broken fell to $595/t from $615-620 on competition from Vietnam, while Vietnamese offers rose slightly to $575-$580.
Higher freight costs are dampening export demand for Asian rice, and Thai prices are under pressure from cheaper Vietnamese supply, pointing to softer export quotes near term.
brecorder.comReutersJun 28, 2024After 49 past logistics events, Rough Rice moved a median -0.9% over 5 sessions (39% higher; middle half -2.6% to +1.1%), and +2.0% over 20.
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.
Asia export quotes in the week to 28 June fell (Indian parboiled and Thai 5% broken lower) on high freight costs and Vietnamese competition, which is consistent with weaker rice prices.
