Supply concerns push Thai rice prices to 4-month peak

Thailand’s rice prices climbed to a multi-month high this week on supply concerns over flooding in the south, while both Indian and Vietnamese rates slipped to near one-month lows. Thailand’s 5% broken rice was quoted at US$375 per metric tonne, up from $370 last week, a Bangkok-based trader said, citing flooding. Prices were at their highest since July 24. “(The) price increase applies only to Thai rice in the South, because of flooding,” the trader said. Demand is very quiet, and on the supply side, some farmers have stopped planting because returns were low, the trader added. India’s 5% broken parboiled variety was quoted this week at $347 to $354 per tonne, down from $348 to $356 last week to a nearly one-month low. The 5% broken white variety was priced at $340 to $345 per tonne. Demand for Indian rice saw a modest improvement this week as lower prices followed the rupee’s slide to a record low. The rupee’s decline is helping exporters lower prices and become more competitive ...