Indian rice export prices reach year high as supplies tighten
Indian rice export prices are at their highest in a year, mainly because supplies are running low and summer crops took a hit from weak monsoon rains.
August rainfall was 16% below normal, and September isn't looking much better.
Bangladesh cuts aromatic rice exports
India's 5% broken parboiled rice is now selling for $371 to $377 per ton (up from last week), with the white variety also climbing.
Globally, Vietnam's prices stayed steady but demand dropped as the Philippines started buying elsewhere.
Thailand saw its prices rise to $488 per ton due to expected lower harvests.
Bangladesh is cutting back on aromatic rice exports to keep local prices in check (only 2,419 tons were exported by August 30, compared to 45,270 tons previously approved for export), hoping this helps stabilize things at home.