Rice export prices in top exporter India edged lower this week due to sluggish demand.
India’s 5 percent broken parboiled variety was quoted around $387-$390 per tonne this week, down from last week’s $390-$393.
“Demand is very poor at current price level. The appreciation in the rupee has limited scope to cut prices,” industry sources said.
India’s rice exports for April-February fell 9.4 percent from a year earlier to 10.57 million tonnes, as major buyer Bangladesh trimmed its purchases due to a bumper local harvest, a government body said.