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BANGKOK - JAPAN has turned down 60,000 tonnes of rice from Thailand after the asking price nearly doubled in the space of a month, the Thai Rice Exporters Association said on Wednesday.
Chookiat Ophaswongse, president of the association, said Thailand on Tuesday offered the Japanese government 100 per cent white rice at 1,300 dollars (S$1,753.57) per tonne - up from the 720 dollars it paid in March.
'This time, Japan turned it down, saying that the price was too high for their budget,' Mr Chookiat said, adding that Japan did not want to be seen as a country pushing up global rice prices.
International demand for Thai rice has soared after other top exporters Vietnam and India imposed limits on exports to ensure domestic supply.
Mr Chookiat said he thought Thai rice prices, which have soared since February, would stabilise in the next two months.
'That is our expectation, but we are waiting to hear from two major rice importers, Indonesia and Iran. We have not heard from them yet, and their demand can drive the prices up,' Mr Chookiat said.
Thailand exported more than one million tonnes of rice to Indonesia and Iran last year, while Japan received more than 200,000 tonnes.
The Thai Rice Exporters Association released updated figures Wednesday, with the benchmark Pathumthani fragrant rice priced at 998 dollars per tonne, up from 956 dollars two weeks ago.
Four weeks ago, that grain was selling at 624 dollars. -- AFP
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