As specified, the reason for this trend is the growth rate of the U.S. dollar against the Indian rupee, which by the end of last week depreciated to its lowest level in the last 3 months, which in turn supports the growth in the price of rice in dollar terms and, consequently, reduces the income of exporters.

A number of traders noted that support prices also has a stable demand for rice of Indian origin from Bangladesh, which this year is a major importer of grain due to the floods that destroyed most of the rice crops in the country. Thus, in the framework of the state agreement Bangladesh plans to buy in India about 150 thousand tons of rice at a fixed price of $440 per ton.

Photo: womansay.net