India’s rice export prices at 4-month high
Rice export prices from India have reached a four-month peak this week backed by increased demand from African buyers. There are also expectations of a further jump in rates in Asia, since Thailand’s supplies are constrained by a persistent drought. Prices of 5% broken parboiled variety rose to their highest since the first week of October, reaching around US$ 369-373 per tonne, from US$ 366-371 last week. The rupee depreciation has also played a role. The fear of further rise in prices due to the drought in Thailand is compelling African buyers to ramp up on their buying. Meanwhile, Vietnam’s rice exports in January are expected to fall by 18.7% YoY to 350,000 tonnes, according to official data.