BANGKOK (Dow Jones)--Thai rice prices were little changed in the week to Monday as outstanding contracts kept local suppliers busy and farmers prepared to harvest a new crop, exporters said.
Some buyers are making inquiries but stayed on the sidelines because of high prices, exporters said. "Buyers want to buy, but they think current prices are not attractive enough," said a second exporter.
Rice supply in Thailand is expected to improve from this month as farmers will be harvesting the second crop, which exporters hope will soften prices and spur buying in the market. Exporters said some buyers could be waiting for prices of exportable rice to fall as farmers start their harvesting activities before making new deals. Until the new crop arrives in the market, adjustments in export prices will be determined by the exchange rate, exporters added.
Monday, Thai 100% grade B was offered $1 lower at $334/ton compared to $335/ton last week, FOB Bangkok, while 5% broken was offered steady at $327-$329/ton. Parboiled 100% sortexed was offered at around $332-$333/ton, $2-$3 higher than last week.
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