Due to decreased demand and predictions of increased output in the upcoming season as cultivation areas extended, the price of Indian rice exports fell even more this week.
Quotes for the 5% broken parboiled variety, which is India's top export, ranged from $536 to $540 per metric ton, down from $539 to $545 the previous week. India's price differential with Thailand and Vietnam has shrunk, resulting in reduced exports, according to a global trading house dealer based in New Delhi.
This week's record low value of the Indian rupee increased exporters' profits from sales abroad. According to dealers, the price of Vietnam's 5% broken rice increased to $570 per ton from $565 a week earlier.
According to a dealer headquartered in Ho Chi Minh City, exporters are boosting their exports to Indonesia and Africa, while domestic supplies are limited. Based on official customs figures, Vietnam's rice exports increased to 751,093 metric tons in July, up 46.3% from the previous month.
As a result, its total shipments for the first seven months of this year increased to 5.3 million tons, an increase of 8.3% over the same period last year.
