Thailand Rice Export Prices Steady Thursday

The price of Thai 100 percent B grade white rice was unchanged for the second week at $700 PMT supported by strong demand from Nigeria and the ongoing government intervention program.

Nigeria, a traditional buyer of Thai parboiled rice, has bought 197,000 MT of Thai rice so far this year, compared to 327,025 MT in the whole of 2007.

Thai rice prices were also supported by a government buying scheme that gives farmers 14,000 baht ($410) PMT for paddy rice adding 720,000 MT to the government rice stockpile, pushing it up to 2.82 million MT from 2.1 million early this year.