Thai Rice Price Drops From One-Month High as Demand Eases

Thai rice prices, the benchmark for Asia, declined from a one-month high as overseas demand eased, the Thai Rice Exporters Association said.

The price of 100 percent grade-B white rice dropped 0.5 percent to $555 a metric ton, said Pisanu Sangyoo, an official at the association. The price was $558 a ton last week, the highest level since Dec. 22.

The price of 25 percent broken rice gained to $492 a ton from $487 a week earlier, he said.

The exporters’ association holds a meeting every week to set prices.

(Source: http://www.bloomberg.com/news/2011-02-16/thai-rice-price-drops-from-one-month-high-as-demand-eases.html)