Indian basmati FOB weak in May with sluggish demand.

Indian FOB for 1121 steam in the month of May moved weak from last month and currently is in the range of USD 1062/MT which is down by 4.42% from last month price of USD 1111/T due to drop of rice price in the local market. Aromatic rice prices are also traded weak with sluggish buying from millers; and aromatic international rice price is likely to trade steady in coming months depends on kharif sowing intension by farmers. According to the UN’s Food and Agriculture Organization (FAO), Currently Pakistani basmati FOB is moving weaker from last month and is now hovering in the range of USD 1042.5/MT which is down by 0.95% from last month FOB of USD 1052.5/MT.