High Freight Prices Sideline Thailand Buyers Wednesday

Most buyers in Thailand sidelined by high freight rates. The freight cost of rice from Thailand to Benin has increased to around $105 a metric PMT from $86-$90/PMT a month ago. Also, other buyers who are willing to pay the high cost are having a difficult time finding a vessel due to strong freight demand, the trader added.
 
Despite the limited trading activity, offers for Thai rice have remained firm due to the strong baht. Farmers are usually hesitant to sell their paddy during the rainy season. Thai 100% grade B was offered unchanged at $328-$329/PMT, FOB, Bangkok; 5% broken was offered flat at $315-$317/PMT; and parboiled 100% sortexed was offered steady at $322-$324/PMT.