Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Waning demand prompts Indian, Thai exporters to lower prices.


Date: 04-10-2019
Subject: Waning demand prompts Indian, Thai exporters to lower prices
Rice export rates in Asian hubs fell this week as weak demand and currency fluctuations prompted sellers in India and Thailand to cut prices, while expectations of lower interest from the Philippines weighed on the Vietnamese market.

Thailand's benchmark 5% broken rice prices were quoted slightly lower at $396-$417 a tonne versus last week's $400-$420.

"Exporters have to lower prices to lure buyers," a Bangkok-based rice trader said adding: "I've not been able to sell any rice for two months now."

Thai exporters have struggled since the start of the year as the baht, which has been Asia's best performing currency this year, has kept Thai prices higher than those of competitors India and Vietnam.


"There could be a possible deal for parboiled rice from African markets ahead of Christmas, and perhaps some demand from China and other Asian markets for jasmine rice towards the end of the year," another Bangkok-based trader said

"But as of now there is simply no major demand due to our high prices."

Prices of top exporter India's 5% broken parboiled variety also extended losses, dipping to around $369-$373 per tonne from $371-$375 a week ago on a weak rupee and subdued demand.

"Demand is weak. Traders are waiting for the new season crop," said an exporter based at Kakinada in the southern state of Andhra Pradesh.

Indian rice exports in April-July plunged 26.5% from a year ago to 3.14 million tonnes, a government body said last month, on subdued demand for non-basmati rice from Africa.

In Vietnam, rates for 5% broken rice were quoted at $330-$340 a tonne, free on board, compared with $335 a week earlier. Prices had plunged to a near 12-year low of about $325 in the week to Sept. 19.

"We are concerned that exports to Philippines will decline as it is seeking to limit rice imports to protect local farmers," a trader based in Ho Chi Minh City said.


Philippines, one of the world's biggest rice importers, may consider imposing a safeguard duty on rice to ease the pain of local farmers hurting from a surge in imports.

Vietnam's rice shipments in the first nine months of 2019 likely rose 4.5% to 5.1 million tonnes, but export revenue was expected to drop 9.7% in the same period.

Elsewhere, a heavy spell of retreating monsoon rains has submerged vast swathe of farmland in low-lying Bangladesh, still recovering from previous floods. Floods in July washed away crops that would have yielded nearly 400,000 tonnes of rice, agriculture ministry estimates showed.

"If the water recedes soon, it won't have much impact on paddy crops," an agriculture ministry official said.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 24-10-2020



Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 13-10-2020
Notification No. 30 /2020 -Customs (ADD)
Seeks to amend notification No. 48/2015-Customs (ADD), dated 21st October, 2015 to extend the levy of ADD on imports of “Plain Medium Density Fibre Board of thickness 6mm and above” originating in or exported from China PR, Malaysia, Sri Lanka & Thailand, for a period of three months i.e. upto 20th January, 2021.

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 50/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001