Back Jun 06, 2025

ASIA RICE-Indian rates fall to two-year low on robust rains, weaker rupee

India rates fall to $380-$386 per ton

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Thai rice demand remains weak

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Philippines to diversify import sources away from Vietnam - trader

By Ishaan Arora

June 5 (Reuters) - Indian rice export prices fell to their lowest level in two years this week due to depreciation of the rupee and expectations that a second year of robust monsoon rains would lead to another bumper crop, while Thailand saw muted demand.

India's 5% broken parboiled variety was quoted at $380-$386 per ton, down from the last week's $382-$389. Indian 5% broken white rice was priced at $373 to $378 per ton this week.

"India is poised to harvest another bumper crop if monsoon rains remain conducive. This will add to already overflowing stocks," said a Kolkata-based trader.

The country last month raised the price at which it will buy the new-season common rice paddy variety from local farmers by 3%, the lowest increase in five years, as New Delhi struggles to manage overflowing granaries after last year's record harvest.

Meanwhile, Thailand's 5% broken rice held at $410 per tonne, from $405-$410 per tonne last week.

"Demand is not good at all," while supply has been ample, said a Bangkok-based trader.

"The Philippines and Indonesia are not buying large lots this year."

Source: Mint

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