ENA Sectors 2024-03-29 14:57:33 <p><span style="font-size:14px"><strong>New Delhi, Mar 29 (KNN)</strong> Rice export prices increased in top exporter India this week as traders factored in higher duty on rice shipments. Meanwhile, demand remained lackluster in rival supplier Thailand.</span></p> <p><span style="font-size:14px">India's 5 per cent broken parboiled rice prices rose to USD 550-USD 558 per ton from USD 543-USD 550 last week.</span></p> <p><span style="font-size:14px">Prices hit a record USD 560 earlier this month after India imposed a 20 per cent export duty on parboiled rice in August to control domestic prices.</span></p> <p><span style="font-size:14px"> We've had to raise prices since the government is considering the total transaction value instead of Free on Board value to calculate the duty, said a New Delhi trader to ET.</span></p> <p><span style="font-size:14px">Some Indian exporters received notices to pay duty differentials on rice exported in the last 18 months, potentially crippling shipments.</span></p> <p><span style="font-size:14px">In Thailand, 5 per cent broken rice prices eased to USD 585-USD 590 per ton from USD 598 due to a weaker baht currency and muted demand, though Indonesian buyers lent support.</span></p> <p><span style="font-size:14px">Vietnam's 5 per cent broken rice was unchanged at USD 590-USD 595 per ton as exporters slowed purchases from farmers after the U.S forecast lower Philippine imports this year.</span></p> <p><span style="font-size:14px">Meanwhile, rice prices stayed high in Bangladesh despite good yield and reserves, prompting plans to allow private imports of up to 200,000 tons to cool domestic rates.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37212 https://knnindia.co.in/news/newsdetails/sectors/indias-rice-export-prices-surge-amidst-higher-duty-on-rice-shipments 2024-03-29 14:57:33 knnindia.co.in