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To: Webster Groves who wrote (78263)	4/23/2008 6:18:21 PM
From: Elroy Jetson	Respond to of 116555

Thai PM rules out rice ‘shortage’ BANGKOK, April 4, 2008: Thailand, the world’s leading rice exporter, insisted on Friday it had enough for domestic consumption but exporters warned of a crisis, as dealers hoard rice to sell overseas at current sky-high prices. dawn.com Prime Minister Samak Sundaravej tried to reassure the nation that the rapid rise in global prices, which have also driven up the cost at home, would not cause a shortage on local shelves. He said the soaring prices had sparked panic buying, but insisted the country had ample rice reserves. “It is impossible that there will not be enough rice for sale. News reporting makes people panic, causing people to buy 10 bags instead of one or two bags,” Samak told reporters during his weekly briefing. “High prices now are due to supply and demand, and it will be like this only for this period,” he said. The benchmark Thai variety, Pathumthani fragrant rice, was priced on Wednesday at $930 per ton, up 52 per cent from a month earlier, according to the Thai Rice Exporters Association. The group’s price survey is updated weekly. Other rice-producing countries including India and Vietnam have announced export curbs to ensure domestic supplies, amid warnings from experts that governments in Asia could see public unrest if prices remain elevated. Thailand has not announced any cut to exports but said on Wednesday it would release 650,000 tons from government stockpiles to sell locally at below the market rate. Exporters say, however, that their own stocks are running low, blaming mills and middlemen for hanging on to supplies in the hope that prices will keep rising in the near future. “The rice situation at present is in crisis,” said Korbsook Iamsuri, secretary general of the exporters association. “Exporters are facing trouble because their rice stockpiles are running short, while no more rice is coming to fill the stocks. Few rice farmers have any stockpiles because most of them have no silos for storage,” she said. “Currently, rice is most likely in the hands of middlemen and the mills,” Korbsook said.—AFP .

To: Webster Groves who wrote (78263)	4/23/2008 6:24:38 PM
From: Elroy Jetson	Read Replies (2) \| Respond to 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 .