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India rice export prices slide to multi-year low on supply influx
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India rice export prices slide to multi-year low on supply influx
Indian rice export prices fell to their lowest in nearly three years this week as fresh supplies from the summer-sown crop loom large, with subdued global demand also crimping exports from other major centres. Top exporter India's 5% broken parboiled variety was quoted around $358-$362 a tonne this week, the lowest since January 2017 and down from $363-$368 the previous week. Paddy rice prices have been trading below the government-set purchase price of 1,835 rupees per 100kg in many spot markets because of weak export demand, he said.
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