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22 March 2016

Thailand Rice Export Prices Up by 1%

New Delhi. Thailand Export prices increased around 1 percent due to tighter supplies of off-season rice and the strengthening of the Thai baht (35.2 baht/US$ last week compared to 34.8 baht/US$). Around 40 percent of the off-season crop has been harvested and there are growing concerns from millers and traders that there will be quality problem and potentially overall lower yields. They expect offseason rice production of no more than 2 million metric tons due to lack of water. The Government is expected to issue the new public tender by the end of March. The tender will likely consist of food-grade 5% grade white rice as domestic prices of white rice are under upward pressure due to current tight supplies of off-season rice. Currently, there is no date set for another non-food grade rice tender.

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