Rice Export New Delhi/IBNS: India's rice export rates have hit a three-month low owing to a decline in demand by buyers in Africa, media reports said.
India's 5 percent broken parboiled variety was quoted at $354 to $360 per tonne this week, their lowest since mid-August, down from $359 to $364 a week earlier, Reuters reported.
An exporter based at Kakinada, Andhra Pradesh told Reuters that the buyers are delaying purchases as they expect further drop in prices.
Price of Vietnam's 5 percent broken rice slipped to $425-$430 per tonne from $430-$435 per tonne a week earlier.
A trader based in Ho Chi Minh City said the export rate of Vietnamese rice fell after decline in prices from other exporting countries like Pakistan and India.
However, falling domestic supplies are expected to prevent a further decline as the next harvest season is only around late February or early March, he added.
Thailand's percent broken rice prices grew to $385-$395 per tonne from $377-$383 last week as Baht strengthened against US dollars and an increase in deamand after prices slumped last week to a level last seen in Oct. 2017, the report said.
However, any hopes of benefitting has been marred by high logistics costs, which has hurt overall export sector, including rice sales, a Bangkok based trader told Reuters.
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