Rice prices in Benin recorded marginal day-on-day movement on 6 March, with Indian parboiled rice prices inching up to XOF 16,500-16,000 per 50 kg bag compared with XOF 16,000 a day earlier. In dollar terms, this translated to about $582-586/MT, up from $567/MT previously. Traders attributed the increase to cautious restocking by wholesalers amid uncertainty surrounding freight availability and shipment timelines.
White rice prices in Benin remained largely stable in local currency terms at XOF 7,600-15,600 per 50 kg bag. However, the dollar equivalent softened slightly to $536-550/MT from $550-553/MT earlier, reflecting minor currency adjustments. Double polish rice prices also showed mixed movement, quoted at XOF 16,300-17,700 compared with XOF 16,100-17,800 previously, translating to around $575-624/MT.
In Niger's Maradi market, white rice prices remained unchanged at XOF 7,600-15,600 per bag, though the dollar equivalent slipped slightly to $536-550/MT from $539-553/MT earlier. Double polish rice held steady at XOF 16,900 per bag, with the dollar equivalent easing marginally to $596/MT from $599/MT.
Meanwhile, in Burkina Faso, bulk Indian parboiled rice prices were stable at XOF 335,000 per tonne, though the dollar equivalent edged down to $591/MT from $594/MT.
West Africa trade faces freight pressure
Freight activity to West Africa remained cautiously firm across both bulk and container segments. Bulk rates from Kakinada strengthened on improved Supramax sentiment, with some shipments also moving from Kandla as vessels previously stuck on India's west coast became available. In the container segment, exports from Mundra Port and Jawaharlal Nehru Port to African destinations saw steady bookings, though geopolitical tensions and higher insurance costs continue to disrupt schedules and push freight rates higher.
Market participants across the region are closely monitoring developments involving Iran, as escalating tensions in the Middle East have begun to create uncertainty around global shipping routes. Freight surcharges and potential disruptions along key maritime corridors could indirectly impact rice shipments from Asia to West Africa. While no immediate supply shortages have been reported, traders said importers are becoming cautious, which may keep regional rice prices volatile in the near term.
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