Asia rice: India prices steady as demand remains subdued, Thai rice falls on strong baht

the $375 to $381 per ton range this week. “Demand is still weak, (as) buyers are only making hand-to-mouth purchases because they know supplies are ample in exporting countries,” said a New Delhi-based trader with a global trade house. India’s state reserves of rice, including unmilled paddy, totalled a record 59.5 million metric tons as of June 1, far exceeding the government’s target of 13.5 million tons for July 1. Vietnam’s 5% broken rice was offered at $382 per metric ton on Thursday, slightly down from $383 a week ago, according to the Vietnam Food Association. The association said Donald Trump’s announcement about a trade deal with Vietnam on Wednesday has no immediate impact on rice production and exports in the country in the short term. “For the longer term, Vietnam’s move to open its market to American farm produce will encourage domestic rice producers to improve their quality and enhance their competitiveness,” the association chairman, Nguyen Ngoc Nam added. ...