BENGALURU, MUMBAI, BANGKOK, HANOI AND BANGLADES: Vietnam rice export prices climbed on supply concerns sparked by floods in several regions, while buyers delayed purchases from top exporter India, anticipating eased restrictions on non-basmati rice exports. Top exporter India’s 5% broken parboiled variety was quoted at $528-$534 per ton this week, unchanged from the last week when prices were at their lowest since mid-January.
Buyers are postponing purchases, hoping that India will reduce the export tax on non-basmati rice, said a New Delhi based trader. The move comes as inventories surge and farmers are set to harvest a new crop in the coming weeks. India’s rice production this year will be higher than last year despite heavy rains and flooding in some states, Agricultural Minister Shivraj Singh Chouhan said on Thursday.
Source: Brecorder
