Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Dip in Rupee Value Sees Rice Export Prices Drop

Dip in Rupee Value Sees Rice Export Prices Drop

Share this article Share this article
published Published on Aug 23, 2018   modified Modified on Aug 23, 2018
-TheWire.in

A drop in rice export rates from the top exporter, India, due to the falling rupee also weighed on demand for the Vietnamese variety.

Bengaluru:
Rice export prices in India fell this week as the rupee weakened, with the drop in rates from the top exporter also weighing on demand for the Vietnamese variety.

Rates for India’s 5% broken parboiled rice fell by $3 per tonne to $389-$393 per tonne this week.

“Rupee depreciation is allowing us to lower prices, but at the same time competitors are also lowering their quotes,” said an exporter based at Kakinada in the southern state of Andhra Pradesh.

The Indian currency fell to a record low against the dollar on Thursday.

Farmers in India had planted summer-sown paddy rice on 30.78 million hectares as of August 10, down 2.9% from a year ago due to scant rainfall.

Monsoon rains in India are likely to be below-normal levels in 2018, a private weather forecaster said earlier this month, raising concerns over farm output and economic growth in Asia’s third-biggest economy, where half the farmland lacks irrigation.

The falling rice prices in India also weighed on the market in Vietnam, the third largest exporter, but rates for the country’s 5% broken variety were unchanged at $395-$400 a tonne.

“Trade is slow as Vietnamese prices are comparatively higher, especially compared with Indian prices … Exporters have lost their African customers to Indian rivals due to that,” a Ho chi Minh City-based trader said.

Please click here to read more.

TheWire.in, 17 August, 2018, https://thewire.in/agriculture/dip-in-rupee-value-sees-rice-export-prices-drop


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close