KARACHI, Dec 13: Pakistani rice prices firmed over the past week as exporters covered their positions, but dealers said on Tuesday prices could steady in weeks ahead because of healthy arrivals.
“There have not been many new orders, but some exporters are in the market to buy to fulfil previous commitments,” said a Karachi-based dealer.
“Exports of around 100,000 tons of rice are expected in December, mostly to African countries,” he said.
Dealers said prices had been soft in recent weeks, but started rising in the last few days as exporters entered the market.
But prices were likely to steady in coming weeks because of a lack of fresh orders, they said.
With fresh supply continuing, unsold domestic stocks were expected to rise further and could push prices lower, they said.—Reuters
