Thai Exporters Likely To Offer More Rice To Malaysia

Officials of the Rice Exporters Association of Thailand have disclosed that Thailand's rice exporters are likely visit Malaysia again in July to explore the possibility of higher sales after a fall in rice prices by around $100 PMT since last month's 200,000 MT deal.

The delivery schedule for the 200,000 MT of rice sold in May has also been extended by a month due to the time taken to arrange vessels.

Malaysian officials also visited Thailand recently to inspect the government stockpile there, before deciding on further purchases. Malaysia has decided to raise its buffer stock of rice to 500,000 MT equivalent to three months' requirements. Earlier, Malaysia used to maintain a stockpile of only 92,000 MT equivalent to 15 days' requirements.