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Indian and Thai 5% broken rice export quotes slipped this week as the rupee fell to a near five-month low and the baht weakened about 4% since March. Vietnamese prices also eased on weak demand after the harvest.
Bangladesh issued a new 50,000-tonne tender and is seeking more state-to-state purchases, mostly from India.
Weaker exporter currencies widen exporter margins and push offer prices lower, which pressures global rice benchmarks. Steady Bangladeshi import demand gives some support to Indian prices.
jaoi.orgH K Sethi JFIApr 8, 2021After 16 past bearish macro events, Rough Rice moved a median +0.2% over 5 sessions (50% higher; middle half -5.1% to +1.7%), and +4.1% over 20.
Not 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.
