India: Rice freight market remain under pressure amid weak bookings, bunker volatility

• West African bulk freights weaken on sluggish cargo activity
  
  
• Bunker volatility and Gulf uncertainty keep sentiment cautious
  
  

India's rice export freights showed a mixed trend w-o-w on 13 May 2026, with bulk rates to key West African destinations easing amid slow cargo movement, cautious chartering activity, and continued uncertainty surrounding regional trade restrictions.

Trade sentiment remained subdued during the week as weak loading activity, bunker volatility, and approaching monsoon disruptions continued to weigh on market confidence, although freight levels largely remained within recent ranges.

West African bulk freights under pressure

Bulk freight rates from Kakinada to West Africa remained mixed during the week. Rates to Conakry and Abidjan weakened amid slow cargo movement and cautious chartering, while Cotonou saw slight support despite subdued trade activity. Import restrictions in parts of West Africa continued to affect cargo flow and fresh bookings.

Market participants indicated that slower loading activity and subdued export momentum continued to limit fresh fixture discussions across several routes. A shipbroker told BigMint, "Coming monsoon may affect the prices, market is volatile and bunker is also affecting the freights."

Another broker mentioned, "Market activity remains slow, with loading operations also witnessing sluggish movement."

Container market weak on East Africa routes

Container freight rates to East Africa showed a weaker trend during the week. Rates from JNPT to Tamatave, Madagascar and Berbera, Somalia declined sharply amid weak booking activity, while freight to Mombasa, Kenya remained stable from both Mundra and JNPT.

Exporters remained cautious amid slow Gulf demand and ongoing geopolitical uncertainties impacting overall trade sentiment.

A Punjab-based trader said, "Stable market, Gulf is slow while the rest is going okay."

Another added, "Everything is stable, but prices are not going down due to war."

Export sentiment remains subdued

India's rice export market remained under pressure amid weak buying interest, slow cargo movement, and trade policy uncertainty in parts of West Africa. Meanwhile, any escalation in the Middle East could raise bunker and vessel operating costs, while the approaching monsoon may impact vessel positioning and loading schedules at Indian ports.

Meanwhile, geopolitical tensions around the Strait of Hormuz continued to keep freight sentiment volatile. Bunker prices increased w-o-w to $844/t as of 13 May, adding further cost pressure to vessel operations and exporter margins.

Outlook

BigMint expects rice freight markets to remain volatile in the near term, with route-specific bulk activity impacted by monsoon concerns, slow loading, and cautious African demand.

Meanwhile, container freight may stay under pressure on select routes amid weak bookings and ample capacity, while bunker volatility and geopolitical risks continue to keep market sentiment uncertain.