Thailand: Prices Unch In Thin Trade On Strong Local Market

Jun 15,2007 00:00 by dailynews

In Thailand, only a few buyers were making inquiries in the market as current prices are at high levels, exporters said. "Some buyers could be waiting for prices to soften," one Bangkok-based exporter said. The Thai government will likely implement another round of its price intervention program for the second crop, which will be harvested starting next month.

However, it's is unlikely to hike its price-support rate, as prevailing prices are already at lofty levels. "There is no motivation for the government to raise support levels," a second exporter said. Exporters added any movement in prices in the near term will depend largely on the exchange rate.

Thai 100% grade B was offered unchanged Thursday at $333-$337 a metric ton,
FOB, Bangkok, 5% broken was at $323-$327/ton, while parboiled 100% sortexed was
offered at $326-$330/ton.