Thai Prices Continue To Rise On Strong Currency

Asian physical rice export prices were offered mostly higher Thursday despite thin trade as a stronger baht in Thailand compelled suppliers to hike offers, exporters said.

In Thailand, the market was mostly quiet as most buyers were sidelined by high prices.

"We have no other reason (for the higher prices) but the stronger currency. This is getting really bad for business," one Bangkok-based exporter said. In fact, local prices have remained stable over the last few weeks and are expected even to go down on an increase in supply as farmers are about to harvest a major crop.

"Many exporters have speculated that prices will go down with the arrival of a new crop. Instead, prices are higher," a second exporter said.