Rice prices in India slipped this week on expectations of a rise in
supplies from the new season crop, while rates for the staple grain
edged higher in Thailand as traders were optimistic about the
possibility of demand from Sri Lanka.
Thailand's benchmark 5-percent broken rice was quoted at $375-$388 a
tonne, free-on-board (FOB) Bangkok, up from $375-$385 last week.
"There looks to be demand from Sri Lanka, which we're optimistic will
translate into more demand for Thai rice," said a Bangkok-based rice
trader.
The government of Sri Lanka has issued a tender to buy 200,000 tonnes
of rice as recent floods in the country have destroyed crops.
In Thailand, however, heavy rain have not hurt crops and all of the
rice has already been harvested. But, the rains have caused difficulties
for shipments to be collected and delivered, which has had a negative
impact on exports, traders said.
FOR MORE INFORMATION PLEASE VISIT OUR WEBSITE: www.tradenivesh.com
The Government of India holds 74.38 percent stake in Dredging Corporation.
ReplyDeleteEquity Tips