Due to weak African demand, rice export prices in India dropped for a second consecutive week, while prices in Vietnam marginally improved as a result of Indonesia’s enhanced offer for supplies.
Four industry officials told Reuters earlier this week that Indian traders are signing a small number of new contracts for the sale of parboiled rice after customs officials modified the calculating technique for the 20% export duty, resulting in a higher duty.
The 5% broken rice type was available in Vietnam for $590–$595 per metric ton, up from $585 a week earlier. prices rose higher after Indonesia earlier this week invited bidders for the supplies of 300,000 additional tons.”
