(Repeats story first published on Thursday, Oct. 22, with no
changes to text)
* Thai rates ease to $435-$440 per tonne amid low demand
* Weaker rupee weighs on Indian export rates
* India’s 2020 exports could rise by nearly 42% – industry
By Anjishnu Mondal
Oct 22 (Reuters) – Flooding slowed rice harvest in most
Asian hubs this week, pushing up export prices for the
Vietnamese variety and domestic rates in Bangladesh, while Thai
traders warned of a risk to fresh supply.
Vietnam’s 5% broken rice <RI-VNBKN5-P1> prices edged up to
$485-$495 per tonne on Thursday from $485-$490 last week.
“Recent rains in the Mekong Delta has hampered an ongoing
harvest there, affecting domestic supplies,” said a trader in
the Mekong province of An Giang.
Traders said that while demand has started to pick up,
buyers from the Philippines haven’t returned.
However, “rains have also affected quality of the
autumn-winter harvest,” a trader said, adding that domestic
prices of fresh paddy from flooded farms have fallen due to poor
Thailand’s benchmark 5% broken rice <RI-THBKN5-P1> prices
fell to $435-$440 from $445-$480 last week, with traders
attributing the dip to low demand.
But floods in some rice growing provinces could hit fresh
supply expected in the next week weeks, traders said.
Heavy rains damaged ripening crops in Bangladesh as well,
with widespread flooding also causing a spike in domestic
prices, despite a government move to set wholesale rates.
Floods have damaged crops worth $4.29 billion in the
country, even as a decision on imports was still pending.
In top exporter India, weak demand and a depreciation in the
rupee pulled down prices of 5% broken parboiled rice
<RI-INBKN5-P1> to $372-$377 per tonne from last week’s 376-$382.
“The flow of new orders has been moderating in last few
days,” said an exporter at Kakinada in the southern state of
But India’s rice exports in 2020 might rise by nearly 42%
from a year ago to a record 14 million tonnes because of reduced
shipments from rival exporters and a weak rupee, industry
(Reporting by Anjishnu Mondal in Bengaluru,Khanh Vu in Hanoi,
Rajendra Jadhav in Mumbai, Ruma Paul in Dhaka, and Patpicha
Tanakasempipat in Bangkok; editing by Arpan Varghese and Rashmi
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