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The Thai 200,000 ton Rice Mistery

Continued increasing rice prices in the Thai market have prompted numerous farmers and middlemen to slow, stall or altogether stop selling paddy rice to millers, a move which eventually affects exporters, according to a Bank of Thailand (BoT) official who is deeply acquainted with the rice trade. Benjamas Kotenongbua, a senior economist at BoT's Northeastern Office in Khon Kaen, said that this year's rice prices have soared unexpectedly to a new record high. The government-sponsored mortgage program for the 2007-2008 rice season saw only 240,000 tonnes of rice being committed to it, compared to earlier estimates of 8 million tonnes, she said.





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