10 Oct '11, 2pm

Thai rice prices may increase at year-end

SINGAPORE: Prices of Thai rice in Singapore may increase towards the end of this year. This comes as Thailand was hit by its worst floods in decades over the past week. Singapore retailers Channel NewsAsia spoke to said they are monitoring the situation and will aim to keep prices affordable. Some have also stockpiled a few months supply to ensure price stability. Another reason why prices may increase - the Thai government's move to buy rice from its farmers at higher prices, which in turn have pushed up global export prices. Alan Tang, Senior Vice-President (Group Consumer Business & Corporate Planning) at PSC Corporation, said: "As a responsible rice importer in Singapore, we've been trying our best to contain it. "But I see very soon, before the end of the year, we have to make some adjustment... To the best of our ability, we may be able to contain [the rise in prices...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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