Thailand Rice Prices Steady Friday On Strong Local Demand

Apr 27,2007 00:00 by dailynews
In Thailand, most buyers are absent as they are apparently waiting for prices to go down before making fresh deals. A strong Thai baht, however, will continue to deter prices from falling substantially even though farmers are currently harvesting a major crop.

Also, steady demand in the local market from exporters who have to fulfill outstanding orders is supporting Thai offers. Vietnam is Thailand's main competitor in the rice export trade.

Thai 100% grade B was offered unchanged Friday at $323-$324 PMT, FOB, Bangkok, the 5% broken at $312-$316 PMT while parboiled 100% sortexed was offered at $318-$322 PMT.