Thailand is harvesting so the price of all types of rice has decreased… Vietnam and Cambodia also harvested many autumn and winter crops but the output was not satisfactory because of the rain.

Asian rice: Indian parboiled rice prices continue to decline due to export taxes affecting demand

Oct 26 (Reuters) – Parboiled rice export prices from India fell for the fourth straight week as a recent tariff extension on shipments from the leading hub sapped demand, while demand New products from Indonesia have increased the price of Vietnamese rice.

The price of Indian 5% broken parboiled rice fell to 495-505 USD/ton from 510-520 USD/ton last week.

India on October 13 extended the 20% export tax on parboiled rice until March 2024.

Additionally, “rice prices are falling due to the new crop supply starting. This allows exporters to reduce export prices,” said a New Delhi-based exporter.

New Delhi has reduced the floor price fixed for basmati rice exports after farmers and exporters complained that it was hurting trade, government and industry sources said.

Meanwhile, officials said neighboring Bangladesh has withdrawn its plan to lift the export ban on fragrant rice as the country must rein in high domestic prices despite good output and reserves.

Vietnam’s 5% broken rice price increased to 640-645 USD/ton from 625-630 USD/ton last week.

“Prices increased due to high demand from Indonesia, while domestic supply remained unchanged,” said a trader in Ho Chi Minh City, adding that tensions in the Middle East could encourage countries to increase strengthen food reserves.

This trader added that concerns about lower autumn-winter crop yields also caused price increases.

Delivery data shows that 331,750 tons of rice will be loaded at Ho Chi Minh City port between October 1 and 27, mostly delivered to the Philippines, Indonesia and Cuba.

Thailand’s 5% broken rice price decreased to 568-570 USD/ton from 575-580 USD/ton last week.

A Bangkok-based trader said prices fell due to additional supplies from millers, while demand from Indonesia, which is looking for pre-Christmas supplies, was limiting the decline.

Another trader said India’s decision to ease restrictions on exports of non-basmati white rice to some countries and weaker demand from Africa also contributed to the fall in prices. (Source Reuters)

—> Cambodia was affected by floods because of heavy rain