Rice export prices were steady Thursday despite thin trade as a strong baht supported Thai offers. Prices should have been lower this week because there is no buying and selling activity in the market, but the exchange rate is too strong.
In fact, local prices are little softer this week on limited fresh demand in the market, but a strong Thai currency prevents exporters from offering price discounts. Exporters are hopeful though that the arrival of trade participants in Bangkok this week for an industry conference that started Thursday could lead to new rice deals in Thailand.
Thai prices may rise next week if new rice contracts materialize. Thai 100% grade B was offered steady Thursday at $325-$327 PMT, FOB, Bangkok, 5% broken was at $313-$316 PMT, while parboiled 100% sortexed was offered at $320-$324 PMT.
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