Strong Local Demand Supports Thai Rice Prices Wednesday

In Thailand, the export market was relatively quiet as no major buyer was making inquiries in the market. Buyers are likely to return to the market and make fresh deals next month in time for an industry conference in Bangkok.
 
  Also, buyers could be waiting for softer prices before making any deals, said the exporter, adding that the bulk of the current crop will be harvested next month and thus could put pressure on export prices. 
 
Despite limited inquiries, some exporters are busy trying to fulfill outstanding contracts, which has prevented local prices from falling despite the ongoing harvest. Thailand's rice exports from Jan. 1 to April 19 rose by 11.3% on year to 2.37 million metric tons, the Commerce Ministry's Department of Foreign Trade said.
 
Thai 100% grade B was offered steady Wednesday at $320-$324 PMT, FOB, Bangkok, the 5% broken at $316-$318 PMT, while parboiled 100% sortexed was offered at $320-$322 PMT.