Thais rice exports halted

Thais rice exports halted

BANGKOK (Reuters): Thai rice exporters said yesterday they were maintaining their suspension of rice shipments to Indonesia despite a calmer political situation there.

Any sales must be backed by letters of credit from credible commercial banks in third countries, exporters told Reuters.

"Despite the seemingly calmer political situation, uncertainties remain intense," said a marketing manager at a major exporting company.

"We need more time to re-evaluate the risk," he said.

Thailand's outstanding obligations for rice exports to Indonesia are estimated at 200,000 tons.

The rice previously intended for Indonesia is likely to be diverted to Iran, Brazil and some African countries which have been buying aggressively recently.