FAO says India non-basmati rice export price up 3.5% on month in Jan.

The average price of 25% broken non-basmati rice exported from India rose 3.5% on month to $384 per tn in January. During the same month last year, the grain was exported at $338 per tn. Indian rice export prices rose due to additional support from the ongoing government procurement and large sales to Bangladesh. Demand for Indian rice was also higher due to its cheap availability as compared to competitors Thailand and Vietnam. Thailand exported rice at an average $416 per tn in January, higher than $392 in December, while rice from Vietnam was quoted 7.4% higher at $391. In Thailand and Vietnam, rice prices registered a growth spurred by purchases from Indonesia and Malaysia. Expectations that dwindling state inventories would encourage government of the Philippines to opt for rice imports added to the firm sentiment