Rice prices in India up as demand revives; Thai, Vietnam markets quiet

Rice prices in India rose on a revival in demand from African and Asian buyers while markets in Thailand and Vietnam remained quiet, traders said on Wednesday.India, the world's biggest rice exporter, saw its 5-%broken parboiled rice quoted at $346-$350 per tonne this week, up from $341-$345 last Wednesday. 

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The rise in prices came as demand from African buyers improved, said an exporter based at Kakinada in southern Indian state of Andhra Pradesh."African buyers were making good purchases after a long time," he said, adding there was also some demand from Asia. 

 

India mainly exports non-basmati rice to African countries and premier basmati rice to the Middle East.Domestic buyers also started returning to the market, helping raise prices despite ample supply which cut prices last week, a Mumbai-based exporter said. 

 

"Good export and domestic demand is offsetting impact of rising supplies," he added.India's summer-sown rice output is seen at a record 93.88 million tonnes in the crop year to June 2017, 2.81 percent higher than last year.

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