Asian rice prices stayed mostly steady this week and were likely to remain firm over the next few months, supported by demand for year-end celebrations.
The price of Thai 5 percent broken grade white rice was quoted at $520 PMT, well above Vietnam prices of $380-$385 PMT. The prices of low quality 25 percent broken grade Thai rice was $425 PMT, higher than Vietnam's price of around $325 PMT.
Meanwhile Vietnam rice exports are expected to rise in the last quarter of this year as demand rises during Christmas and New Year celebrations.
The US Department of Agriculture has also revised up slightly Vietnam's expected rice production this year, projecting an increase in planting areas pushing output to 35.99 million MT from 35.92 million in its previous forecast.
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