Thailand: Rice Prices Rebound

Avatar for Matt Hopkins By Scott C. Lucas|9 April 2007

The increase reflected a surge in interest from foreign buyers as Thai rice prices were adjusted downward to be closer to Vietnamese rice prices. However, most deals have not been concluded, even with African countries like Ghana and Senegal which intended to buy 900,000 tons of Thai rice from private exporters, who last week joined government-led Thai trade delegates on a visit to African countries last week. The enquiries consisted of 400,000 tons of parboiled rice and 150,000 tons of fragrant rice for Ghana, as well as 350,000 tons of broken fragrant rice for Senegal.

Meanwhile, Chinese demand for Thai fragrant rice remained strong. In addition, loading of shipments of premium white rice to Iran and Iraq is occurring this week and will continue for the next several weeks.

According to Thailand’s Department of Foreign Trade, Ministry of Commerce, total rice exports (including fragrant rice) from 1 Jan. to 27 Mar. amounted to 1.83 million tons, up 12% from 1.63 million tons for the same period last year.