Thai rice futures edged higher on Friday due to stop-loss selling as players offset July contracts on the last day of trading to avoid delivery, brokers said. Overall volume rose as 50 contracts of 5 percent white rice were trade compared to Thursday's 30.
Only the July contract was traded on Friday. It settled at 10.58 baht per kg, up from 10.54 baht the previous day, with the number of contracts traded rising to 50 from 5.
Open interest for the July contract fell by 20 contracts to 223 contracts waiting to be delivered.
Brokers said sentiment would remain weak due to sluggish demand and worries about when the government would dispose of its rice stockpile.
The government has bought up to 5 million tonnes of paddy, equivalent to 3 million tonnes of milled rice, since last November, but has failed to indicate what it will do with it.
On the physical front, Thai 5 percent white rice was steady at 10.80-10.85 baht per kg.
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