Rice prices in India held steady this week as concerns over lower production due to below-normal rainfall offset sluggish demand in the world’s top Rice exporter.
Prices for India’s 5 percent broken parboiled variety were hovering between $392-$396 per tonne this week, unchanged from last week.
“Rice planting has been lagging due to poor rainfall. Yields could (be) impacted if rainfall fails to improve next week,” industry sources said.
Farmers in India had planted summer-sown paddy Rice on 26.27 million hectares as of Aug 3, down 4.2 percent from a year ago.
Thailand’s benchmark 5 percent broken Rice rose slightly to $390-$395 per tonne this week free on board (FOB) Bangkok, from $385-$393 last week.
Meanwhile in Vietnam, rates for 5 percent broken rice were $395-$400 a tonne, up from $385-$395 a tonne a week ago.