The price of new rice on the market in Thailand is slightly lower

Introduction: on Monday, the export price of rice in Thailand fell slightly due to the listing of the second season rice harvest and the low demand of overseas buyers On Monday, 100% of Thailand's B-grade rice was quoted at $295-298 per ton, compared with $297-300 last week Rice with a crushing rate of 5% was quoted at $290-292, down from $290-295 last week The price of 25% broken rice was $265-267, down from $270 last week Traders say farmers in some areas have begun harvesting second crops of rice Although the harvest is not yet fully underway, importers expect rice prices to fall as supply increases, so they prefer to wait and see According to the exporter, overseas buyers don't buy rice at all at present Some people say Tami is too expensive, so they buy Vietnamese rice instead Another exporter said some buyers may want to wait until May to buy Tami because they expect the government to sell the rice stocks acquired under the current intervention Some buyers prefer to wait until then, he said, while others who are in a hurry to buy rice buy shipping from Vietnam Market participants said that the price of Tami has been hovering at a high level in recent years, which has curbed buyers' interest in purchasing Tami So exporters had to lower their prices a little this week But exporters say it is unlikely that Thailand's rice will fall sharply during the second harvest, as the persistent drought may have affected the yield per unit The second exporter said that rice processors and exporters currently expect rice production in the second quarter to be 20 to 25% lower than previously expected The yield of second crop rice is usually about 5 million tons Exporters expect the government to adopt a new set of intervention programs during the harvest to support the price of second season rice, which may be announced soon after the establishment of the new cabinet The current intervention will continue until the end of March.