A labourer carries a sack filled with rice to load onto a truck from the railway's goods yard in Ahmedabad, February 1, 2018. -Reuters
Rice prices in India held steady this week as concerns over lower production due to below-normal rainfall offset sluggish demand in the world's top rice exporter.
Prices for India's 5 percent broken parboiled variety were hovering between $392-$396 per tonne this week, unchanged from last week. India's rice exports in April to June rose 4.4 percent from a year ago to 3.15 million tonnes due to good demand from African countries. "Rice planting has been lagging due to poor rainfall.
Yields could (be) impacted if rainfall fails to improve next week," said an exporter based at Kakinada in the southern state of Andhra Pradesh, Reuters. Farmers in India had planted summer-sown paddy rice on 26.27 million hectares as of Aug 3, down 4.2 percent from a year ago. The country is likely to receive below-normal monsoon rains in 2018.
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