Agricultural market last week: Indian rice prices decreased for 3 consecutive weeks

India's rice prices have hit a 17-month low due to weak demand and a depreciating rupee. The country's rice exports are expected to increase, potentially impacting Thai rice exports. Meanwhile, Vietnam's rice prices have also seen a decrease due to weak demand and trading activity. In contrast, Bangladesh assures no rice shortage and expects to make up any shortfall through imports. Meanwhile, agricultural commodities such as soybean, wheat, corn, and coffee have seen a decline in prices due to increased selling by farmers and a stronger US dollar. Brazil's heavy rains have eased concerns about a supply shortage, contributing to the decrease in coffee prices.

Rice prices in India, the world's top exporter, fell for a third straight week to their lowest in 17 months amid weak demand and a record low in the rupee against the dollar. A Kolkata-based dealer with a global trading house said demand from both Asian and African buyers was weak due to the New Year holiday. However, the dealer also predicted demand could pick up next week. India's 5% broken parboiled rice was quoted at $436-$442 a tonne this week, down from $439-$445 a tonne last week. India's 5% broken white rice was quoted at $440-$449 a tonne. Meanwhile, traders in Thailand said the market is expecting Thai rice exports to fall this year as India increases exports. Thailand's rice exports could fall by around 30% as India starts shipping more rice in 2025, a trader said. Thailand's 5% broken rice was offered at $490-$502 a tonne, little changed from $502 a tonne last week. Demand remained weak and supplies were unchanged this week. A Bangkok-based trader said weak ...