Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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Thai rice prices seen steady, Iran in the market
BANGKOK ,Thai rice prices held steady on Thursday and are likely to stay unchanged next week, supported by fresh demand from overseas buyers, traders said.
Thai 25 percent broken grade was offered steady on Thursday at $ 179-181 per tonne FOB. India's 25 percent broken grade was heard to have been recently traded at $ 155, traders said.
"Iran is in the market, they are seeking to buy around 90,000 tonnes of Thai 100 percent grade B at $ 208 per tonne FOB for August-September shipment," said one trader.
Thailand is the world's top exporter of rice.
Most exporters have offered to sell the rice to Iran at between $ 210-215 per tonne FOB.
"At the current local price and the baht level, we could not sell to Iran at the price they are looking for," said one.
The baht was quoted at 41.60 to the US dollar at 0600 GMT on Thursday, little changed from last week.
The domestic price of 100 percent rice grade B was offered steady on Thursday at 8,250 baht per tonne ($ 198/tonne).
Exporters expect tight local supply to ease in coming weeks following the government's announcement on Monday that it would be less active in buying rice from farmers under a state scheme.
Bangkok began buying rice from the country's smaller 2002/03 second crop on March 20. Under the scheme, which will run to July 31, it aimed to buy two million tonnes of rice.
As of June 12, the government had bought 1.28 million tonnes of paddy from farmers under the scheme.
"For some rice grades, their local prices have started to decline with more supply available in the market," said one exporter.
The local price for five percent broken grade was quoted on Thursday at 7,900 baht per tonne ($ 190/tonne), versus the 7,970 baht per tonne quoted on Monday.
Some Thai exporters said they had received enquiries from private Philippine firms to buy up to 100,000 tonnes of Thai rice, but they were sceptical about their authenticity.
"We have received some emails from various firms claiming to be from the Philippines. We have checked their status, and it turned out that one of the senders is a student, so we do not know for sure whether it is a scam or what," said one exporter.
Between January 1 and June 12, Thailand shipped 2.92 million tonnes of rice, down from three million tonnes in the same period last year, figures from the commerce ministry showed.
MGR Archive 21.6.2003
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Russia Rapan $ 700
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USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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