Indian rice export prices declined further this week due to subdued demand and expectations of higher production in the new season as cultivation areas expanded.
Indian rupee this week depreciated to a record low, increasing exporters’ return from overseas sales.
Vietnam’s 5 per cent broken rice was offered at $570 per ton, up from $565 a week ago, traders said.
Domestic supplies are low, while exporters are increasing their deliveries to Indonesia and Africa, a trader based in Ho Chi Minh City said.
Vietnam’s rice exports in July rose 46.3 per cent from the previous month to 751,093 metric tons, according to the government’s customs data. This raised its total shipments in the first seven months of this year to 5.3 million tons, up 8.3 per cent from a year earlier.
Thailand’s 5 per cent broken rice was quoted at $567 per tonne, up slightly from last week’s $565.