Thai Rice Price Surges to Ninth-Month High on Year-End Demand

Thai rice prices, the benchmark for Asia, rose 2.9 percent to the highest level in nine months because of increased year-end demand, the Thai Rice Exporters Association said.

The price of 100 percent grade-B white rice rose to $567 a metric ton from $551 the previous week, said Pisanu Sangyoo, an official at the association. The price of 25 percent broken rice increased to $489 a ton from $480, Pisanu said.

The nation’s rice output may fall below its previous estimate as the worst floods in five decades devastated crops, supporting prices of Asia’s staple food, Theera Wongsamut, Agriculture and Cooperatives minister said on Nov. 24.

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