Rice prices in India and Vietnam advanced while Thailand prices dropped due to a weaker baht.

In India, the world’s biggest rice exporter, 5% broken parboiled rice prices rise as demand improved from African buyers. Competition between exporters and local buyers is keeping paddy prices firm. Along with private buyers, govt agencies are actively buying paddy for the public distribution system, pushing prices up above the MSP. Country’s rice production in 2016/17 is likely to rise by 4.3 percent to a record high 108.86 million tonnes. In Vietnam, the world’s third largest rice exporter, 5% broken rice prices rise on thin supply near a new harvest season. Prices in Vietnam now are higher than other countries, keeping foreign importers from buying. Vietnam’s market was quiet but will be more lively once the harvest season starts by the end of this month. The harvest season will significantly raise supply, which in turn will ease prices.Thailand benchmark 5% broken rice narrowed to free-on-board, Bangkok. It was due to the Thailand baht weakening against the U.S. dollar. Thailand sold 1.35 million tonnes of rice from state stockpiles in its first auction of the year. There will be another auction for 3.66 million tonnes of spoiled rice for industrial use. Thailand has exported about 2 million tonnes of rice this year, down 2.05% from the same period last year. (Source : Times of India )