Iran Buys Thai Rice

Iran buys Thai rice

Bangkok: 1 hour and 44 minutes ago

Thailand has sold 130,000 tonnes of 100 percent B grade rice to Iran in a government-to-government deal, a Thai official said.

'The deal was done early this month and shipments will run from July through September,' Thailand's commercial counselor in Iran, Napadol Thongmee, said.

Napadol refused to say what price the rice was sold at, but traders close to the deal said it was around $340 per tonnes.

Thai 100 per cent white rice B grade was quoted at $346 per tonne, free on board this week.

Iran, one of Thailand's key buyers, has bought up to 610,000 tonnes of Thai rice this year, 510,000 tonnes of it in government-to-government deals.

Iran was expected to buy nearly one million tonnes of rice this year to ensure domestic food security during its confict with the West over its nuclear weapons.

Reuters

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