Export prices for most rice varieties remained unchanged from the previous week, except for parboiled rice, which declined around one per cent due to a lack of new inquiries.
In addition, fragrant rice prices declined slightly in anticipation of more sales of government stocks.
Export prices for most grades of rice remained unchanged from the previous week, except for parboiled rice prices, which declined around one per cent due to a lack of new inquiries.
In addition, exporters have reportedly fulfilled their outstanding contracts of parboiled rice with Nigeria, thus, weakening demand.
Prices for fragrant rice declined slightly from last week in anticipation of additional government stock sales of around 0.6 million tons.
The MY2012/13 main-crop Paddy Pledging Program, which began on October 1, 2012 and runs until February 28, 2013, has preliminarily received pledges of around 1.5 million metric tons of rice paddies (roughly 1.1 million metric tons milled equivalent) from October 1 – November 6, 2012; of which 1.4 million metric tons are white rice paddy.
