Iran buys Thai rice

Iran buys Thai rice

BANGKOK (DPA): Iran has agreed to buy 300,000 tons of Thai
rice after winning a soft loan from Thailand's Export-Import Bank
(EXIM) for the purchase, a news report said Saturday.

Under the agreement, signed Friday by Thai Commerce Minister
Supachai Panitchpakdi and Iran Trade Organization President M.
Ansari, EXIM will extend a two-year soft loan for the 3 billion
baht (US$81 million) to Teheran for the rice purchase, said the
Bangkok Post.

Supachai said the price was quoted at $258 per ton of 100
percent B grade rice.

Thailand's rice exports, which proved a major foreign exchange
earner in 1998, are expected to decline this year due to lack of
demand on the world market.

Supachai will lead a delegation soon to Indonesia, which has
expressed interest in buying 200,000 tons of Thai rice, said the
Bangkok Post.