White rice and parboiled rice prices in the global market are heading towards $700 a tonne with Thailand leading the way hiking the cereal’s rate above $670 a tonne.
Prices in the global market have soared since July 20, when India banned exports of white rice and then, a week later imposed 20 per cent export duty on par-boiled rice shipments. It has also imposed a minimum export price of $1,200 for Basmati exports. White and parboiled rice are now quoted in the $670-690 range.
S-E Asia feels the impact
“Thailand is quoting $670-690 a tonne for parboiled rice. Indian parboiled is quoted at $500 a tonne free-on-board, including the 20 per cent export duty,” said VR Vidya Sagar, Director, Bulk Logix.
The main reason for India’s parboiled rice to quote at such a competitive price is that domestic parboiled prices have dropped. “Prices in the local markets have dropped to…
