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India rice rates dip as demand slows, Bangladesh to review export ban

The country's rice exports for April-February dropped 9.4 percent from a year earlier to 10.57 million tonnes, as leading buyer Bangladesh trimmed its purchases due to a bumper local harvest

Reuters  |  BENGALURU 

 Asian rice exporting hubs saw tepid activity this week, with prices for the staple from top exporter India dipping on lower demand, while Bangladesh mulled a review of its ban on exports of the grain. India's 5 percent broken parboiled variety was quoted around $377-$380 per tonne, down from last week's $387-$390. Demand from African buyers was weak as they have ample inventories, said Nitin Gupta, vice president, rice business at Olam India. Aggressive selling of old inventories by China at lower prices has also weighing on prices, he added. The country's ...

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First Published: Fri, April 19 2019. 08:45 IST