Asian physical rice export prices were unchanged at lofty levels Friday amid quiet trade on high domestic prices in Thailand and Vietnam, exporters said.
In Thailand, local prices were at high levels despite the ongoing harvest of a major crop. "We don't expect local prices to fall as the government is expected to extend its price intervention program for paddy," one exporter said. The current price support program for paddy, intended to keep local prices at profitable levels for farmers, will end in July, the exporter added.
A stable baht has also been working to prevent any price movement, exporters said.
Any price changes in the coming weeks will depend largely on the exchange rate, they added.
Thai 100% grade B was offered steady Friday at $340-$341 a metric ton, FOB, Bangkok, 5% broken at $326-$332/ton and parboiled 100% sortexed was offered at $333-$342/ton.
In Vietnam, prices were also unchanged Friday, due to strong demand in the local market, exporters said.
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