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 Govt Sells 1.2 Mln Tonnes Rice to Exporters
"The commerce minister signed an order to sell the rice on Monday, Dec. 1," a senior Commerce Ministry official told Reuters. The rice was allowed to be sold domestically and internationally, said the official, who asked not to be named. The rice was sold at prices that ranged from 8,000 baht ($225) per tonne to 18,000 baht ($506) per tonne, which were well below current Thai offer prices and expected to depress the market price further. The benchmark 100 percent B grade white rice was quoted at $550 per tonne on Wednesday, down from last week's $560 per tonne due to thin demand and less than half its record high of $1,080 per tonne in April. The order to sell the rice was signed the day before a Thai court disbanded the People Power Party (PPP) and two other parties in the ruling coalition on Dec. 2 for vote fraud, which automatically meant several ministers had to step down, including the commerce minister who oversees rice stock sales. Traders said they expected Thai rice prices to fall further due to increasing supplies as a result of the sale. "There will be a psychological impact on the rice market immediately," Chookiat Ophaswongse, head of the Thai Rice Exporters Association, told Reuters. ($1=35.57 Baht)
MGR Archive 9.12.2008
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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