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The early morning showers came as a help for paddy farmers who, as per the government instructions, were allowed to start paddy transplantation. The mild showers continued for almost an hour. Hailstones too were reported from few areas surrounding the city. Estimate an area of 1.80 lakh hectares to come under paddy cultivation in this season, nearly 80,000 hectares area would come under basmati varieties.

The government rice stocks in storage have fallen to the lowest in six years due to an insufficient supply from the ongoing procurement programme. The stock of rice stands at 1,91,000 tonnes till June 13 which in 2009 stood at 5,46,000 tonnes in the Fiscal Year 2009-10. The price of rice has already increased over the last two months which traders and millers attribute to the loss of crops in the haor regions in the Northwestern region of Bangladesh. The price of coarse rice in the capital was ranging at between Tk45 and Tk55 a kilogramme, 5%-10% higher compared to that a month ago.

Around 2.1 million tonnes of inedible rice stored by the state were expected to be sold in the latest bidding held yesterday by the Ministry of Commerce, leaving only a small amount of poor quality grade grain in the government stockpile to be put on sale next month. Offer prices ranged between 2,000-6,700 baht per tonne and depended mostly on how poor the quality of the rice was. However, the offer prices were well above offers in the previous bid of around 4,000 baht a tonne.

Prices of rice fell in the key wholesale markets of the country as traders liquidate stocks fearing demand may be hit after the roll out of GST as a 5% tax on branded flour will be levied. In Haryana Karnal market, prices of 1121 basmati sella rice fell by 100 rupees, and the grain was traded at 5,300-5,400 rupees per 100 kg. Permal raw variety non-basmati rice was traded at 2,800 rupees per 100 kg in Karnal.

The Army Purchase Organization has offered 16,900 tonne of sharbati rice for auction through NCDEX e-markets, the ration wing said in a tender notice. The auction will be conducted on July 6.

The demand for Vietnam 5% broken rice, has been rising, hitting US$390 per tonne in the early days of June, against US$360 per tonne to US$380 per tonne in late May. This is the highest price since December 2014. A tonne of 5% broken rice in the domestic market stood between VND7.65 million (US$340) and VND7.75 million in early June, up VND550,000 (US$24) per tonne against last month.

Bangladesh buy 50,000 tonnes of parboiled rice at $470 per tonne and another 200,000 tonnes of white rice at $430 per tonne.

Myanmar exported over 180,000 tonnes of rice worth over US$59 million in May, including over 72,000 tonnes of rice worth over $21 million. The country exported 39,115 tonnes of white and parboiled rice worth $11 million from May 28 to June 3 via sea routes: 6,430 tonnes of Emata rice to Bangladesh, 450 tonnes of parboiled rice and 150 tonnes of Emata rice to Russia, 625 tonnes of Emata rice to Madagascar, 250 tonnes of Emata rice to Andorra, 1,000 tonnes of Emata rice to Togo, 7,548 tonnes of Emata rice to Singapore, 20,000 tonnes of Emata rice to Côte d’Ivoire, 2,564 tonnes of Emata rice and 50 tonnes of parboiled rice to EU countries, and 48 tonnes of Emata rice to Sri Lanka.