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KARACHI, Nov 11: Rice trade was weak on low export demand during the past week, but the market may pick up given Sri Lankan interest in Irri-6 variety, traders said on Monday.
“The market is likely to wake up in the coming weeks as Sri Lankan buyers are placing orders for Irri-6,” said Haji Majeed, an exporter.
Majeed said exporters had already booked cargoes of around 10,000 tons of Irri-6 rice to Sri Lanka, while new crop arrivals were likely to help them quote more competitive prices.
They said the market was anticipating a reduction in local prices in the next couple of weeks.—Reuters
