Decline in export price of rice in containers

04-Nov-2024 05:28 PM

New Delhi. Like white rice, the price of Sela rice has also softened in the global market during the last two weeks. Its export offer price for 100 percent Sortex category in Thailand during the period under review fell from $ 561 per tonne to $ 522 per tonne, in Pakistan from $ 500-504 to $ 493-497 per tonne and in India from $ 490-494 to $ 439-443 per tonne.

Similarly, the export offer price of non-Basmati white rice in containers has also decreased. According to the President of Agricultural Commodity Exporters Association (ACEA), the price of export shipment of white rice in containers to Vietnam has come down from $ 495 per tonne to $ 475 per tonne. This also includes shipment expenses.

Rice importers are currently getting a lot of relief due to the strength of the dollar and reduction in container fares. Actually, the shipment in containers is decreasing, hence its freight charges have come down. In some cases, the freight charges have fallen by up to $100.

At some places, it is available at a freight of $50. But last week, the pace of export business slowed down a bit as traders are waiting to see the extent of the fall in prices.

However, there is a good demand for rice in the importing countries and the market is trying to find its level, in view of which there is some improvement in the prices.

The President of the Rice Exporters Association has said that the importers of Philippines are keen to increase the stock of rice and now Indonesia has also given approval for the purchase of Indian rice.

India was also invited to participate in the tender for rice import issued by the government agency Bulog there.

The offer price (bid) of rice in Bulog's tender can be between $450-480 per tonne, whereas the buyers of Philippines are ordering rice at the rate of $475-480 per tonne, which also includes shipment expenses and insurance expenses.