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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Webster Groves who wrote (78263)	4/23/2008 6:24:38 PM
From: Elroy Jetson	Read Replies (2) of 116555

Price of Thai rice jumps to 50 cent per dry pound! Price of packaged jasmine rice shoots up enews.mcot.net BANGKOK, April 22 (TNA) – The price of fragant jasmine rice (hom mali) packaged in 5 kg bags is set to reach 200 baht per unit due to the increased demand for the product, according to a leading rice trader. An executive of C.P. Intertrade Co, a firm operating under the umbrella of Thailand's agro-industry conglomerate Charoen Pokphand Group, conceded that the price of jasmine rice in 5kg retail packages is likely to increase to 200 baht per bag, as the cost of rice has edged up to 35 baht per kilogramme. The market pressure pushed up the cost of jasmine rice to some 170-180 baht per 5kg bag. Couple with transport costs, this could push the price close to 200 baht per bag. However, the Thai Rice Packers Association reassured that public that there's enough khao hom mali for Thai consumers, and that there would definitely not be in shortage in the market. The executive said the rice price in the world market continued to stay high because major rice exporting countries, including India and Vietnam, have suspended their rice exports, raising the demand for Thai rice on the world market. However, the CP executive said the rice output must be monitored in Indonesia and South America. Should there be a large amount of output, the rice price rise would not be too great. (TNA)-E005 .

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