Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Futures
  3. United States
  4. Chicago Board Of Trade
  6. News
  7. Summary


SummaryMost relevantAll NewsOther languagesMarketScreener Strategies

Weaker currencies push Indian, Thai rice export rates lower

04/08/2021 | 10:36am EDT
A farmer harvests rice by a paddy field outside Hanoi

(Reuters) - Rice export prices for the Indian and Thai varieties slipped this week due to weakness in rupee and baht, while Vietnamese activity slowed post a harvest.

Rates for top exporter India's 5% broken parboiled rice fell for a second straight week to $390-$395 per tonne from $393-$398 last week, as the rupee dipped to a near five-month low.

The rupee's depreciation, translating into higher margins for traders, has allowed exporters to lower prices, said an exporter based in Kakinada in the state of Andhra Pradesh.

"Export demand is good. Our exports jumped sharply last month as well," he said.

Bangladesh, traditionally the world's third-biggest rice producer which has accelerated imports to shore up depleted stocks, issued a new tender to buy 50,000 tonnes, while another tender for a similar quality from an Indian firm was approved, food ministry officials said.

It is also looking to buy more rice under state-to-state deals, mostly from India.

This comes as a storm damaged rice crops in wetland areas, known as Haor, in the north eastern part of Bangladesh this week.

Thailand's 5% broken rice prices declined to $465-$482 per tonne, an over five-month low on average, from $488-$500 last week.

Bangkok-based traders said the dip was largely due to a nearly 4% drop in the baht since the start of March, and in part also due to a market slowdown ahead of the Thai New Year holidays next week.

Vietnam's 5% broken rice fell to $495-$500 per tonne from $505-$510 last week on weak demand.

"Trade activity is slow this week as farmers in the Mekong Delta region have completed their winter-spring harvest," a trader in An Giang province said.

Traders said domestic paddy prices have fallen recently due to poor quality.

"Some rice drying facilities in the area were overloaded during the harvest, impacting quality," another trader said.

(Reporting by Rajendra Jadhav in Mumbai, Khanh Vu in Hanoi, Patpicha Tanakasempipat in Bangkok and Ruma Paul in Dhaka; Editing by Rashmi Aich)

By Arpan Varghese

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / THAI BAHT (AUD/THB) -0.43% 24.123 Delayed Quote.4.34%
EURO / THAI BAHT (EUR/THB) 0.13% 37.586 Delayed Quote.1.90%
US DOLLAR / THAI BAHT (USD/THB) 0.31% 31.29 Delayed Quote.4.01%
ZR (ZR) - CBE (ELECTRONIC)/C1 -0.16% 12.86 End-of-day quote.3.59%
All news about ZR (ZR) - CBE (ELECTRONIC)/C1
04/16ISEE TAIWAN FOUNDATION  : Forum Draws Star Chefs from East and West, Gastronomic..
04/16India's monsoon rains forecast to be average in 2021 - weather office
04/15U.S. Economy Ramps Up on Spending Surge, Hiring Gains -- Update
04/15STORE CAPITAL  : Names New CEO
04/15Myanmar security forces fire on protesting medical workers, some hurt - media
04/14GRAIN HIGHLIGHTS : Top Stories of the Day
04/14Cuba loosens ban on cattle slaughter, sales of beef, dairy
04/13WOLFDEN RESOURCES  : Completes Winter Drilling Program on Rice Island Project
04/09USDA SUPPLY/DEMAND  : Crop Summary - Apr 9
04/09USDA SUPPLY/DEMAND  : World Wheat-Apr 9
More news
Duration : Period :
ZR (ZR) - CBE (ELECTRONIC)/C1 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ZR (ZR) - CBE (ELECTRONIC)/C1
Short TermMid-TermLong Term