Rice Prices Stay Relatively Low

Ample rice supplies from top exporters Thailand and Vietnam should keep prices in check through the first quarter, sparing Asia’s staple food from the rally in other commodity prices, analysts said. Vietnam was forecast to enjoy a bumper next crop, while top buyer the Philippines has said it would halve imports in 2011. The benchmark 100 per cent B grade Thai white rice slipped $5 to trade at $535 per tonne last week, the lowest since November, compared to a peak of over $1,000 a tonne in 2008. – Reuters

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