Asia Rice: India prices extend declines, Vietnam rates rise on Indonesian bids

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.”

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