Prices of rice exported from Thailand rose this week on increased demand from Middle Eastern markets, while Indian and Vietnamese rates were unchanged.
Freighter costs, a major challenge for Thai rice export, has also been sidestepped because Middle Eastern buyers have sent their own freight for rice purchases, traders said. "Domestic supplies are comfortable as government is distributing a lot of rice to poor people at free of cost or at nominal rate," said an exporter based at Kakinada in the southern state of Andhra Pradesh.
"Traders are hesitant to sign new export contracts, waiting for prices to go up higher," the trader added.
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