Indian export quotes eased on a weaker rupee and hefty stockpiles, while Thai prices inched higher on cost pressures and talk of more buying from the Philippines.
What's going on here?
Rice export prices are splitting: India’s quotes eased as the rupee weakened and stockpiles stayed ample, while Thailand’s ticked up on higher costs and talk the Philippines may step up buying.
What does this mean?
Reuters data shows India’s 5% broken parboiled rice at $335-340 a ton, slightly lower than last week, even as traders watch rainfall. Dealers say last year’s harvest left plenty of rice in storage, and soft demand means exporters can’t raise prices much. Thailand’s 5% broken rice, meanwhile, was quoted around $450-475 per metric ton, up from about $450, with traders pointing to rising production costs and the risk that farmers plant less if inputs..
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