Demand for Indian rice in overseas markets slowed as export prices of the commodity rose to their highest level in more than seven months as the rupee appreciated.
India’s 5 percent broken parboiled variety was quoted around $392-$395 per tonne this week, up from $386-$389 last week.
The Indian rupee was trading near its highest level in seven months, trimming returns from overseas sales for traders in the world’s largest rice exporter.
Meanwhile, in Vietnam, rates for 5 percent broken rice were in line with last week’s $360 a tonne.
Thai benchmark 5 percent broken rice prices were quoted at $390-$393, free on board Bangkok, on Thursday, up from $380-$385 last week.