Rice varieties exported from India:Traders say that the supply is the same, but exports are being affected despite lower prices due to increase in shipping cost.
India is a major exporter of rice. Rice is exported from India to all the countries of the world and India is continuously moving ahead in the field of rice export. But this week there has been a sharp drop in the price of rice being exported. At present, the price of rice exported from India is at the lowest level in the last 4.5 years. It is not that only the prices of rice exported from India have come down. The price of rice exported from Thailand is also at its lowest level in two years.
Rice varieties exported from India
According to a Reuters report, such a situation is being seen due to lack of demand and logistical problems. The price of India’s 5 percent broken boiled rice has come down to $361 a tonne from last week’s $366 a tonne. Nitin Gupta, vice-president of rice business, Olam India, said the fall in Thailand’s rice prices amid low availability of containers and ships is reducing demand.
Impact on exports despite low prices
Thailand’s 5% broken rice prices rose marginally to $385-408 a tonne on Thursday from $385-410 a tonne. This is the lowest price since July 2019. Traders said that the supply is the same as before. Exports are being affected despite lower prices due to increase in shipping cost. A Bangkok-based rice trader said, “The price fluctuations are due to the exchange rate. But the demand has come down due to increase in shipping cost.
Meanwhile, Vietnam’s 5% broken rice price remained unchanged at $390 a tonne. This price is also the lowest since 2020. Traders said that domestic supplies are increasing in the Mekong Delta region of the country, known as the rice bowl, but transactions are slow due to restrictions imposed on the corona virus.
Bangladesh approves purchase of 50,000 tonnes of rice from India
A trader in Ho Chi Minh City said, “Farmers are struggling to sell the new crop. The situation has reached such a point that some farmers are thinking about whether to cultivate paddy in the next season or not.’ Vietnam’s state media has reported that the government is planning to stock the rice purchased from farmers. So that the farmers affected by the restrictions imposed due to low export price and Covid-19 can be saved.
At the same time, an official of the Food Ministry of the Government of India has said that Bangladesh has approved the purchase of 50,000 tonnes of rice from an Indian company through an international tender at $377.78 per tonne. Experts say that the increase in logistics cost and the restrictions imposed due to Corona have affected the export of rice.
Boiled Rice and many more
because shipping cost incresese
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