India Rice export prices continue decline on weak demand
Commodity Online | April 26 2019
UPDATED 11:45:21 IST

Silver and Gold: Balancing More Than 100 Years Of Debt Abuse

Is A Blow-Off Top Setting Up

Predictive Modeling Suggests US Markets 12% Over Valued

Ray Dalio Suggests USA Is Entering A Period Of Decline And New World Order

Critical Price Level Could Prompt A Big Move After The Holiday Weekend

Rice export prices in India, the world’s leading exporter, continued downtrend due to weaker demand . India's 5 percent broken parboiled variety fell to around $375-$378 per tonne this week from last week’s $377-$380 range.

Demand is weak from African, as well as Asian buyers, even after reducing prices. The aggressive selling of old inventories by China to African buyers was also weighing on prices, industry sources told Reuters.

A dip in the rupee, which fell to a seven-week low on Thursday, was another factor prompting exporters to cut prices.

India’s rice exports for April-February dropped 9.4 percent from a year earlier to 10.57 million tonnes, as leading buyer Bangladesh trimmed its purchases due to a bumper local harvest, a government body said.