Thailand increases export price for rice due to higher demand
Thailand’s export price for rice saw a 1-percent uptick in the latter part of March amid robust demand coming from countries like China and Africa.
In its latest report, the US Department of Agriculture said export prices of both country’s white and parboiled rice — which are partially boiled in the husk — recorded an increase during the week ending March 26.
This happened as exporters are moving to fill in the market with off-season rice supplies, consistent with delivery commitments to China.
Meanwhile, Thai industry players are reportedly boosting new-crop rice to fulfill their white and parboiled rice shipment contracts with African countries.
This demand hiked farm-gate prices of off-season white paddy rice during the peak harvest to $251 per metric ton (MT) — up about 1 percent from the previous week and up 3 percent from a year ago.
In particular, rice exports from March 18, 2018 totaled 2.12 million MT, up 22 percent from a year ago.