BENGALURU/HANOI/MUMBAI/DHAKA: Thailand’s rice prices jumped to a near four-month high this week as flooding hit production areas and traders cited news of sales to China and a firmer baht, while Indian prices slipped on sluggish demand and a rupee trading near a record low.
Thailand’s 5 percent broken rice was quoted at USD370 per metric tonne, its highest since July 31, and up USD30 from last week, due to flood-related damage to some production areas, said a Bangkok-based trader. Demand was still quiet, the trader added.
Prices also climbed on news of sales to China and the appreciation of the baht, another trader said. Millers have slowed sales, while exporters with existing orders still need to purchase for shipment, the trader said.
“The situation is positive for farmers, while crop damage occurred in some areas due to flooding.” India’s 5percent broken parboiled variety was quoted at USD348-USD356 per ton, down from USD352-USD360 last week. Indian 5 percent broken white rice was priced at USD345 to USD350 per ton this week.
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