Indian basmati rice FOB down in August by 4.32%.

Indian FOB for 1121 steam in the month of August moved weak from last month and currently is in the range of USD 998-1000/MT which is down by 4.32% from last month price of USD 1045/T. Average basmati rice price too frail this month with lower demand from international markets, however overall sentiments for basmati rice price remains firm in coming two months till the arrival of new crop which starts from October. According to the UN’s Food and Agriculture Organization (FAO), Currently Pakistani basmati FOB is moving weak and now it’s hovering in the range of USD 1125/MT which is also down by 5.85% from last month FOB of USD 1195/MT.