India. Rupee appreciation to impact Rice exports

10.08.2017

With the appreciation of Rupee and the increase in Paddy prices in India the non Basmati Rice shipments became more expensive in the global market and the exports are expected to decline over the next few months. Lower shipments from the world&#39 s biggest Rice exporter will give rivals Vietnam Thailand and Cambodia a chance to raise their share of the global market as the prices in other origins are much cheaper than India.

India was offering 5 percent broken parboiled Rice this week at around $410 a ton and when compared to the price of Thailand it was seen around $390 and $392 per ton and in the case of Vietnam the prices was around $400 and $405 per ton.In 2017 Rupee has appreciated by more than 6.5 percent and reached to its highest in more than two years. A stronger rupee means rice exporters have to increase their export prices to cover their purchases and other costs.


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