The growing rice trade around the globe
Demand for Rice in the international market remains strong.
Indian white rice exports continue to have a firm to bullish tone for the near term. Though rice trade is impacted by the unavailability of containers, rice exporters see a great possibility of trade from rice importing countries in Asia and the Far East. Rice export prices for Swarna white rice continue to be stable as the rice export prices of White rice IR-64 continue to be bullish for the near term.
Indian parboiled rice exports maintained a flat tone. Rice millers and rice traders believe that the new summer rice crop which is a month away (April 2021) may possibly add up to the bearish sentiments. Parboiled rice demand from rice importing countries remains resilient, setting a positive outlook for international rice traders.
Pakistani IRRI-6 rice export witnessed extremely limited movements due to low rice demand in the global rice market. Rice exporters see a possible rice export demand from rice importing countries in Southeast Asia which may occur in roughly three weeks (mid-April 2021). Shipment constraints remain for Africa-bound rice shipment while Asian-bound rice shipment has limited availability of containers.
In Vietnam rice export prices for 5 percent broken white rice increased to $510-$515 per MTS from the previous week $500-$510 per MTS. One rice exporter said that they are witnessing a boost in rice demand from rice importing countries such as the Philippines, Bangladesh, and Indonesia who are considering purchasing rice from the winter-spring rice harvest that has the finest quality of the year.
Thailand rice export prices for 5 percent broken rice reduced to $505-$513 per MTS from the previous week $505-$515 per MTS. One rice exporter said that the market was muted and the constant decrease in rice prices was mainly due to the exchange rate, as the Thai baht has weakened against the U.S. dollar.
The Bangladesh government announced an additional international rice bid to buy 50,000 MTS of rice, in addition to purchasing in state-to-state rice trades with India, Thailand, and Vietnam, while private rice merchants are permitted to import 1 MM MTS of rice.
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