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Vietnam’s 5% damaged rice was supplied at $660 to $665 a metric ton on Thursday, its highest since mid-July 2008, versus $655 to $660 final week.
“Costs edged greater on tight provides,” mentioned a dealer based mostly in Ho Chi Minh Metropolis.
Preliminary transport knowledge confirmed 162,800 tons of rice to be loaded at Ho Chi Minh Metropolis port from Dec 1 to twenty, with most of it heading to Indonesia, the Philippines and Cuba.
The costs of India’s exports rose according to the upward pattern in different exporters and considerations over manufacturing.
India’s 5% damaged parboiled selection was quoted at $505 to $512 a metric ton this week, its highest in two months, up from final week’s vary of $499 to $506. “Because of widening gaps between Indian costs and people of different nations, consumers at the moment are keen to just accept greater costs,” mentioned an exporter within the jap metropolis of Kolkata. India’s rice output is predicted to fall this yr, for the primary time in eight, making it extra probably that New Delhi will lengthen export curbs to carry down costs forward of common elections due subsequent yr.
The value of Thailand’s 5% damaged rice elevated to its highest since August, at $646 to $650 a metric ton, from final week’s $640.
Merchants mentioned the rise was fuelled by extra orders from the Philippines this week.
Prime Minister Srettha Thavisin mentioned Indonesia instructed the Thai authorities of its intent to purchase 2 million metric tons of the grain in a letter acquired on Monday.
Provide has dwindled and merchants say they count on extra getting into the market early subsequent yr.
