Thai rice enjoys $75/t premium over Indian grain as it eyes G2G deal with China
Thailand’s rice prices have surged over 15% in four months, reaching $430/tonne for 5% broken white rice, while Indian rice remains at multi-year lows of $354/tonne. The premium reflects expectations of increased Chinese demand, giving Thai rice a $75/tonne advantage over Indian shipments.
Thailand’s rice prices have increased by over 15 per cent in the past four months, even as the cereal’s rates in India continue to languish at multi-year lows.
Thai rice is currently enjoying over $75 a tonne premium over Indian rice on hopes of a deal with China buying more, said trade sources.
Data available from the Thai Rice Exporters Association (TREA) showed that while prices of Thailand’s 5 per cent broken white rice have increased to $430 a tonne from $370 during end of August, Indian rates for the same variety are quoted at $354 against $377 in the same period, down 6 per cent.
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Source : The Hindu Business line
