Thai rice price jumps ahead of intervention

BANGKOK: Thailand's main export rice grade was offered as high as $660 per tonne this week, up from $595 last week, exporters said on Wednesday, adding that operators were holding on to grain ahead of a government intervention scheme.

The 100 percent B grade Thai white rice was offered at prices between $620 and $660, exporters said.

Thailand's new government has promised to support farmers by buying paddy from them at 15,000 baht ($485) per tonne from October. Exporters have said that could force the export price above $800 a tonne.