Thailand Rice Prices Up On Low Domestic Supply

Thailand's rice export prices may rise in the coming weeks as traders struggle to source the grain for overseas shipment with farmers opting to sell their output to the government.

Thai traders said the government's plan to sell rice from its stocks to exporters seem to be a remote possibility in the near-term with the political uncertainty gripping the country.
 
The price of 100% grade-B rice has risen $10 over the week and is currently trading at $740 PMT, FOB.

Meanwhile, demand for Thai rice remains steady; with traders saying Iraq may be buying 15,000 MT of white rice this month, while there's talk that Iran may enter the market to buy the grain soon.