FAO says India Jan-Sep avg export price of non-basmati rice up 5.8%.

The average export price of 25% broken non-basmati rice from India rose 5.8% on year to $381 per tn in Jan-Sep, the United Nations. However, for September, export price was $362 per tn, lower than $373 in the preceding month. This was the second consecutive month of a sharp fall in export price for Indian non-basmati rice this year, mainly because of a sharp depreciation in the rupee and lacklustre demand. India, where generally improved prospects for the Kharif crop added to downward pressure exerted by a weaker rupee and a timid pace of sales. The government, in its first advance estimate, has pegged India’s kharif rice output at a record high 99.2 mln tn in 2018-19 (Jul-Jun), higher than 97.5 mln tn in the previous year. Export price of Indian non-basmati rice was comparatively higher in July, in reaction to the Indian government’s move of hiking minimum support price for common grade paddy by 200 rupees to 1,750 rupees per 100 kg for the 2018-19 season. The minimum support price for fine grade paddy was raised by 180 rupees to 1,770 rupees per 100 kg. Rice prices of India’s competitors–Thailand and Vietnam–increased 7.8% and 13.8%, respectively.