Thai rice futures ended mixed on Tuesday as nearby contracts were largely offset in quiet trade in line with the physical market ahead of the weekend general election, brokers said. Overall volume rose as 183 contracts of 5 percent white rice were traded compared to Monday's 56. The most active March contract settled at 10.52 Banta per kg, up from 10.50 baht, with the number of contracts traded rising to 93 from 14. Open interest for the March contract dropped to 577 contracts from Monday's 663.

"Most players offset nearby contracts to avoid risk, waiting for clear directions after the general election," said one brokers.

"But prices were expected to stay high though trading was quiet as rice was mostly kept by the government, millers and also farmers," said another broker.

The government said last week it had extended its buying scheme for one month to March 31 to boost domestic prices.

Copyright Reuters, 2005