Indian rice falls on weak demand.


Indian rice export prices extended losses for a second week as the rupee weakened and demand from Africa remained low, while a cyclone damaged paddy fields in neighbouring Bangladesh. Top exporter India's 5percent broken parboiled variety was quoted around $363-$368 per tonne, down from $365-$370 last week. In dollar terms, export prices are down due to the weak rupee. Local paddy rice prices are firm, an exporter based at Kakinada in the southern state of Andhra Pradesh said. The Indian rupee fell to a two-month low on Wednesday, increasing exporters' margins. Tepid demand from African countries for non-basmati rice has also...

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