Thai rice futures rose on Monday following recent falls, supported by talk of ships waiting for loading, brokers said. Overall volume rose as 64 contracts of 5 percent white rice were traded compared to Friday's 29. The most active July contract settled at 10.90 baht per kg, up from 10.86 baht, with the number of contracts traded rising to 30 from 21. "There was talk in the market that some ships were waiting to load parboiled rice and 5 percent white rice and that helped the market," said one broker.
However, brokers said they expected the price rise to be brief as market was more concerned about the five million tonnes of paddy, which would yield around 3 million tonnes of milled rice, the government has in its stocks.
The Commerce Ministry said last week it was considering selling its stockpile by tender and in the futures exchange, so investors were waiting for a decision, they said.
On the physical front, Thai 5 percent white rice was at 11.10 baht per kg, up slightly from Friday's 11.00 baht.