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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