With maize prices soaring, export demand zooms for Indian broken rice as feed

With maize (corn) prices soaring on demand from West, South and South-East Asia, buyers abroad are switching over to 100 per cent broken rice for animal feed in countries such as Vietnam, Indonesia and China. Broken rice prices are now quoted near maize prices as there is a shortage. Broken rice is commanding ₹2,100 a quintal. 100 per cent broken rice prices were at par with 25 per cent broken white rice. As per IGC data, 25 per cent broken rice price last weekend were $349 a tonne. Rice prices will begin to fall off once Rabi arrivals begin and this will happen around mid-May. Shipments of maize have slowed down after prices soared due to the Russia-Ukraine conflict. Instead, buyers from Vietnam and Indonesia are now seeking broken rice.