Thai rice futures ended steady on Monday following the government's announcement its support price for second crop due to hit the market in April will be the same as for the main crop, brokers said. Overall volume rose slightly as 67 contracts of 5 percent white rice were traded compared to last on Friday's 61. The most active may contract settled steady at 10.54 baht per kg, with the number of contracts traded rising by 4 to 21.
"Prices barely changed following the government's announcement it would to buy rice from the second crop at the same price as in the current scheme," said one broker, referring to the intervention price the government will pay until March 30. It is paying 6,500 baht ($169.7) per tonne for 5 percent paddy grade from the main crop and decided on Friday to pay the same for rice from the second, smaller crop.
The scheme's starting date has yet to be decided. On the physical front, Thai 5 percent white rice was steady at 10.55-10.60 baht per kg on Monday.
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