Indian rice export prices have surged to a 10-month high, reaching $356-$361 per ton, as adverse weather conditions delay the planting of the new-season crop.
The price increase follows a week of steady gains, with rates previously trading between $352 and $357 per ton.
The upward pressure is driven by growing concerns over upcoming supply levels, particularly for the 5% broken parboiled variety, which serves as a key benchmark for global trade.
The upward pressure is driven by growing concerns over upcoming supply levels, particularly for the 5% broken parboiled variety, which serves as a key benchmark for global trade.
Despite the rising costs, demand from major Asian importers has remained quiet.
Traders report that Thailand has placed no large orders recently, while prices in Bangladesh remain elevated due to tight local supplies.
This divergence between high export prices and muted buying interest suggests caution among buyers who are waiting for clarity on the monsoon's impact on harvest volumes.