ASIA RICE-Vietnam charges rise on Philippine stockpiling; India costs regular

Philippines will droop rice imports for 60 days from Sept 1

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Climate conducive for paddy crop, Mumbai-based vendor says

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Demand for Thai rice stays quiet, dealer says

Aug 14 – Vietnamese rice costs rose this week as patrons within the Philippines stockpiled forward of an import suspension deadline, whereas Indian charges held regular close to a three-year low.

Vietnam’s 5% damaged rice was provided at $395 a metric ton on Thursday, up from $391 every week in the past. Merchants mentioned patrons from the Philippines are dashing to make purchases earlier than the nation suspends rice imports for 60 days beginning September 1, as the federal government seeks to guard native farmers affected by falling costs in the course of the harvest season. Merchants additionally mentioned that Vietnam’s home provides had been working low because the summer-autumn harvest ends.

India’s 5% damaged parboiled selection was quoted at $369 to $374 a ton, unchanged from the earlier week when it hit its lowest stage since August 2022, whereas Indian 5% damaged white rice was priced at $360 to $368 a ton this week.

“The climate is basically conducive for paddy crop, this yr’s manufacturing is predicted to be even increased than final yr’s report harvest,” mentioned a Mumbai-based vendor. Thailand’s 5% damaged rice tumbled to $355 to $360 a ton, down from final week’s value of $370 on weakening demand, merchants mentioned.

Home and abroad demand has been very quiet, with patrons anticipating elevated provide available in the market, which may drive costs even decrease, one other Thai dealer mentioned.

In the meantime in Bangladesh, costs proceed to stay excessive regardless of renewed imports and report harvests since November final yr, which pushed reserves to almost 2 million tons by July.

Information from the Buying and selling Company of Bangladesh confirmed costs remained 15 to twenty% increased in contrast with the earlier yr.

This text was generated from an automatic information company feed with out modifications to textual content.