Thai Rice Prices Steady; Govt Tender To Raise Market Supply

Thai rice prices were mostly steady in the week to Monday, with offers for 5% broken rice grade slightly lower amid the government's tender to sell its rice stocks, traders said. The Commerce Ministry last Thursday held a tender to sell around 400,000 MT of rice, comprising of 200,000 MT of white 5% broken rice, 100,000 MT of white 100% and around 93,000 MT of jasmine fragrant rice. 
 
Monday, Thai 100% grade B was offered little-changed at $327-$328 a metric ton, FOB Bangkok. While 5% broken rice was offered flat at $315-$317/ton, compared with $317-$319/ton the previous week. Thai parboiled 100% sorted was offered unchanged at $322/ton, FOB Bangkok. 
 
The market was mostly stagnant as Thai prices are higher than offers by rival exporters, traders said. However, although rival suppliers such as India and Vietnam can offer at lower prices, they have limitations in supplying the rice, traders said.