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Vietnamese 5% broken white rice fell US$20 per tonne in a week after reaching a nine-year high in late March. Thai and Indian quotes are also lower, with the Thai decline tied to a weaker baht and the Indian decline to a weaker rupee.
Exporters say the lower prices will make it easier to sell Vietnamese rice.
Lower Asian export quotes reduce the price floor for global rice and may draw buyers toward cheaper Indian grades. The currency-driven drop is likely to keep benchmark rice prices under pressure in the near term.
english.vov.vnVNS/VNAApr 6, 2021Not 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.
