Asian Rice: Sluggish demand, harvest supplies weigh on rates across top hubs

Asian rice export markets remained subdued this week with Indian and Vietnamese prices holding steady and Thai rates easing slightly on sluggish demand and rising supplies from new season harvests. India’s 5% broken parboiled rice (RI-INBKN5-P1) was quoted at $344-$350 per tonne this week, unchanged from the previous week, while its 5% broken white rice was priced at $350-$360 per tonne. “Paddy harvesting is gaining momentum as weather is now dry across the country and supplies are rising,” said a Kolkata-based trader. Vietnam’s 5% broken rice (RI-VNBKN5-P1) was offered at $415-$430 per ton on Thursday, unchanged from a week ago, according to the Vietnam Food Association. Traders said a small harvest is ongoing in the Mekong Delta province, which could also exert downward pressure on prices. Government data on Thursday showed rice exports from Vietnam in October dropped 56.2% year-on-year to 344,000 tonnes, while shipments for the January-October period fell 7.5% to 7.17 million ...