Iran plans to buy rice from Thailand and Vietnam ahead of possible United Nations (UN) economic sanctions over its nuclear program, but high prices of Thai rice may hurt negotiations, Thai exporter was quoted as saying by Thai local media on Wednesday.

Officials from the Government Trading Cooperation of Iran are in Thailand this week to negotiate with several Thai exporters for around 300,000 tons of rice, said Chookiat Ophaswongse, president of the Rice Exporters Association of Thailand.

"Iran may have to speed up its rice purchases to reduce the risk of a shortage that may occur from economic sanctions if the United Nations decides to impose them," Chookiat said.

A U.S. diplomat leading six-nation talks on Iran's nuclear program predicted Tuesday that European governments would prepare a resolution for the UN Security Council that could allow for sanctions.

For this year, Iran has contracted to buy around 400,000 tons of Thai rice, mostly 100 percent B grade, with some deliveries still pending.

Source: Xinhua