Indian rice export prices hit 17-month low

Indian rice export prices fell further to a 17-month low this week as the rupee weakened to a record low and demand in key markets remained subdued during the holiday season. Asian Rice Market India’s 5% broken parboiled variety was quoted at $439-$445 a tonne this week, down from $440-$446 a tonne last week. Meanwhile, India’s 5% broken white rice was quoted at $446-$453 a tonne. A New Delhi-based dealer with a global trading house said exporters adjusted prices this week, taking into account the weakening rupee. Demand was also weak due to the impact of the Christmas holiday. Rice prices in Thailand and Vietnam also fell due to slower trading during the holiday season. Specifically, Thailand's 5% broken rice was quoted at $502 per tonne, down from $512 last week. A Bangkok-based trader said the current supply situation remains unchanged. However, Thai traders expect prices to fall further after the New Year holiday due to increased global rice supply from India. Similarly, ...