Prices of Rice Surge Due to Drought Conditions in Thailand

Thailand

In anticipation of short supply due to drought conditions, the prices of all types of rice in Thailand has soared. The price for 5% white rice is quoted at US$424 a tonne, up from $397 in April, and the price for glutinous rice is quoted at $900 a tonne, up from $867 last month. However, the free-on-board export price for Hom Mali fragrant rice remained stable at $795 a tonne. Authorities say that the prices of glutinous rice has risen to curtail farmers from shifting completely to the cultivation of Hom Mali fragrant rice due to increased demand from China, Indonesia and Malaysia. Globally, the prices of rice has risen due to expected short supply from two of the major producers of rice, India and Vietnam.

Read Full News At: http://www.researz.com/prices-rice-surge-due-drought-conditions-thailand

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