Rice in Thailand Climbing on Signs Army Won’t Allow Cheap Sales
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Rice prices in Thailand are set to advance as much as 8 percent as the lowest rates in five years attract buyers and on speculation the military government won’t allow sales at cheap levels, exporters said.
The cost of the 5 percent broken variety may rise to $400 a metric ton from $370, Somkiat Makcayathorn, secretary general of the Thai Rice Exporters Association, said by phone yesterday. New-crop rates already increased $5 this week, said Mamadou Ciss, the president of Alliance Commodities (Suisse) SA.