Thai and Viet Prices Up Sharply

Asian physical rice export prices were up sharply Thursday despite quiet trade, with a strong baht boosting prices in Thailand, exporters said.

"The currency is getting so bad for the exporters - prices are so much higher today," one Bangkok-based exporter said.

Local prices are quite steady as farmers are beginning to harvest a major crop, the exporter said. As current prices are at lofty levels, most buyers aren't likely to make new deals, exporters said.

Thai 100% grade B was offered steady Thursday at $350-$351/ton, FOB, Bangkok, the 5% broken at $340-$342/ton and parboiled 100% sortexed at $349-$351/ton. These prices are higher by $8-$10/ton from prices offered Wednesday.

In Vietnam, prices also rose Thursday despite the ongoing harvest because of strong demand from exporters who need to fill outstanding contracts.

"A new crop is coming, but fresh supply isn't enough to fill existing demand in the local market," one exporter said. Prices aren't likely to fall until around the end of July, when farmers would have harvested most of their crop, the exporter said.