Indian rice export prices hit highest in nearly 10 months
Indian rice is getting pricier, reaching its highest export rates in nearly 10 months.
This week, 5% broken parboiled rice is selling for $358 to $364 per metric ton, and white rice is selling for $357 to $363 per metric ton.
The main reason? Domestic paddy supplies are running low, and there's uncertainty about the upcoming crop.
Indian rice competitiveness lifts export recovery
Supply shortages and worries about new-season production are pushing prices higher.
Even so, Indian rice stays competitive globally, which is helping export demand slowly recover.
As a New Delhi dealer with a global trade house put it, "Export demand is gradually picking up, as Indian rice remains competitively priced despite the recent increase."
Higher local costs are also adding to the price surge, but India's position as a top global supplier remains strong.