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Thailand’s problems continue as rice price SOARS

Rice export prices in Thailand rose sharply this week on worries that the country’s worst drought in about a decade could reduce supply.

Thailand’s benchmark 5-percent broken rice prices rose to 406-435 USD per tonne this week from 395-405 USD quoted last week.

Meanwhile, Vietnam’s rates for this rice remained unchanged from last week at 340-350 USD per tonne.

India’s 5-percent broken parboiled variety prices fell to around 377-381 USD per tonne this week from 381-384 USD last week due to a depreciation in the rupee.

A strong bath contributed to Thai higher rice prices than other Asian hubs.

The dry conditions have also affected the quality of rice, which led to an increase in domestic rice prices, a Bangkok-based trader said