Mumbai: Due to the arrival of the new crop, Indian rice prices have fallen to a 19 -month low in the world market. Rice supply is increasing due to the arrival of the new crop. Market sources said that Vietnamese rice prices have also come to the lowest level since September 2022. Supplies in the world market have increased after India relaxed rice export restrictions.
The price of five percent boiled rice in India is currently being reported to be around $ 418 to $ 418 per ton. A week ago, an average price per tonne was stated to be $ 430. India’s five percent white rice price has also come down from 395 to 405 dollars.
An Indian exporter said, “In view of the fall in prices, importers also wait and look at the policy.” The importers are waiting for the prices to stabilize.
The devaluation of the rupee has increased the margin of exporters. In early January, the rice record in India was 60.9 million tonnes of stock, which was eight times more than the government’s target.
Vietnam’s 5% broken rice was available at $ 405 per ton, which was the lowest level of 29 months. Two weeks ago, the price of this rice was stated to be around $ 415.
It is noteworthy here that after India lifted the ban on rice exports, supply in the world market has increased. However, prices were normally seen in retail markets.
