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Prices Steady Despite Thin Trade In Thailand
Dow Jones
MANILA (Dow Jones)--Asian physical rice export prices were steady Friday amid thin trade and improved export supply in Thailand, exporters said.

Thai exporters said a recent sell tender held by the government has increased availability of export supply in the market.

The Thai commerce ministry sold 281,272 metric tons of rice from its reserves to 14 companies in a tender concluded last week.

Buyers, however, continue to make themselves scarce as they are apparently waiting for prices to go down, exporters said.

Exporters were in fact disappointed that they failed to bag a contract to supply rice to the Philippines, they said. The Philippine National Food Authority earlier this week bought 280,000 metric tons of the grain from Vietnam as offers made by Thai suppliers were at high levels.

"Some exporters were hoping they would supply some rice to the Philippines. Now that Thailand doesn't have a new contract (with the Philippines), there is more supply available in the market," one exporter said.

Barring a stronger Thai currency, prices are likely to remain stable next week, exporters said.

"The only factor (that could affect prices) is the currency," a second exporter said.

Thai 100% grade B was offered steady Friday at $333-$337/ton, FOB, Bangkok, the 5% broken at $323-$327/ton while parboiled 100% sortexed was offered at $326-$330/ton.

In Vietnam, prices are stable Friday on strong global demand as most exporters are still busy trying to fill in contracts.

One exporter said prices are likely to remain at current levels next week on continuing tight supply in the local market.

"We have additional demand coming from the Philippines but the next crop won't arrive in the market until later next month," the exporter said.

Private traders forecast that Vietnamese companies would sign export contracts of more than 1.0 million metric tons in the third quarter on top of 3.8 million tons that they have signed so far this year.

Vietnam's 5% broken was offered unchanged Friday at $302/ton, FOB, Ho Chi Minh City, 10% broken was offered at $295/ton while the 25% broken was offered at $290/ton.
MGR Archive 17.6.2007
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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