Finance
Rice Imports Expense on rice imports reduced as India, Vietnam export rates fall on rising supplies
Own Correspondent, Dhaka, April 23: India and Vietnam export rates of rice have fallen on rising supplies.
In this situation, countries like Bangladesh, China, Iran and Sri Lanka are expected to buy more rice from India and Vietnam soon. This was reported by the news agency on Friday (April 22).
India, the world's top rice exporter, has raised the price of five percent broken boiled rice from USD 361 to 365 per ton (approximately Tk 31,288 to 31,635). Last week, the price of such rice was at USD 364 to 368 per ton (Tk 31,548 to 31,895).
Rupee depreciation is also believed to have played a key role in the decline in rice exports from India.
A rice exporter from Kakinada in the southern Indian state of Andhra Pradesh said, "Demand is good, but the rupee is depreciating. The supply has also improved in the last few weeks."
In Vietnam, five percent broken rice was sold at USD 415 (about Tk 35,968) per ton on Thursday, which was at USD 420-425 (about Tk 35,968 to 36,835) last week.
The Vietnamese state media reported, quoting the Vietnam Food Association, that their rice exports were expected to increase in the next few months, especially to countries such as Bangladesh, China, Iran and Sri Lanka.
Preliminary shipping data shows that 2,91,690 tonnes of rice will be loaded at the Ho Chi Minh City port in Vietnam this month, mostly for the Philippines and Cuba.
Despite the decline in India-Vietnam, the export price of rice has risen in Thailand, the second largest exporter. Two weeks ago, five percent broken rice in the country was being sold at USD 408 to 412 (around Tk 35,361 to 35,708), now it stands at USD 410 to 414 (around Tk 35,535 to 35,881).
