The benchmark rice price in world number one exporter Thailand rose 2 percent from last week, exporters said on Wednesday, citing strong demand from Japan and the Middle East. The median price for 100 percent B grade white rice quoted by exporters rose for the second straight week to $735 per tonne, up from last week's $720 per tonne.
It was still well below a record high of $1,080 per tonne marked in April. "Importers in the Middle East kept buying and there was fresh demand from Japan," one exporter said. Japan bought 15,000 tonnes of Thai rice in a tender for 28,000 tonnes last week.
The remaining 13,000 tonnes was sourced from the United States, traders said. Japan's Ministry of Agriculture planned to hold a tender for 25,000 tonnes on September 17 under the more flexible simultaneous buy and sell system. Shipments would be made until December 25.