Asian rice market: demand remains low in Vietnam, Thailand, India
Export prices for Indian and Thai rice increased this week on the back of an appreciation in their domestic currencies, while that of Vietnam went down over quiet demand.
Hanoi (VNA) – Export prices for Indian and Thai riceincreased this week on the back of an appreciation in their domesticcurrencies, while that of Vietnam went down over quiet demand.
According to Reuters, prices for India’s 5 percent broken parboiled variety were quoted around 367-370 USD per tonne, up from lastweek’s 365-367 USD.
Export demand is weak and unlikely to bounce back in thenext few weeks unless prices correct, said one exporter based at Kakinada inIndia’s southern state of Andhra Pradesh.
Meanwhile, in Thailand, the world’s second largest riceexporter, the prices widened to 390-407 USD a tonne, from 393-404 USD a tonnelast week. Traders say the price increase can be attributed to a seasonaldecline in rice supply.
Thailand’s baht, which reached its highest in nearly sixyears against the US dollar on June 20, also boosted prices for the staple.
Demand was uninspiring in Vietnam, where rates for the 5percent broken rice variety fell to 340-345 USD a tonne on June 20 from 345-350last week.
Trading activities are quiet this week over low demand,though supplies from the ongoing summer-autumn harvest are abundant, a traderbased in Ho Chi Minh City said.-VNA
The Rice Policy and Management Committee of Thailand has announced rice stock release plans and expects over 34 million tonnes of rice throughout this year.
Vietnam earned 1.21 billion USD from exporting an estimated 2.83 million tonnes of rice during January-May, declining 20.7 percent in value and 4 percent in volume as compared to the same time last year, the Ministry of Agriculture and Rural Development said.
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Illustrative photo (Source: VNA) 
