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Rice prices climb on improved overseas demand, fresh crop supply caps gains

The recent harvest mainly served domestic demand and didn't affect export price

Reuters  |  Bengaluru 

Rice prices in India climbed this week, buoyed by improved overseas demand, but rising supplies from a new season crop capped gains for the staple grain in the world's top exporter. India's 5 per cent broken parboiled rice prices rose by $2 per tonne to $399 to $402 per tonne. "There was an improvement in demand from Bangladesh and Sri Lanka. African buyers were also making inquires," said an exporter based in Kakinada in the southern state of Andhra Pradesh. In Thailand, benchmark 5-per cent broken rice was quoted at $380-$387 a tonne, free-on-board (FOB) ...

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First Published: Thu, November 16 2017. 21:38 IST