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Indian 5% broken parboiled rice fell to $366-$372 per tonne, the lowest since March, on muted demand and a weaker rupee that has lost more than 6% this year. Vietnamese 5% broken prices slipped to $450 per tonne, the lowest in nearly two months, as domestic supplies built up during the harvest.
A weaker rupee and ample Indian and Vietnamese supply make exporters cut prices, which pressures global rice export values and keeps competition sharp.
esmmagazine.comDayeeta DasJun 19, 2020Not 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 quotes on weak demand and a weaker rupee point to softer global benchmarks and add competitive pressure on US rice.
