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USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed


28 January 2013

USDA GAIN: Thailand Weekly Rice Price Update - 29 January 2013USDA GAIN: Thailand Weekly Rice Price Update - 29 January 2013

TH 3013 – Export prices increased around 1 percent due to the strengthening of the Thai Baht. Domestic and exportable supplies are tighter due to the government paddy pledging program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending Jan 21, 2013

Exchange rate: 29.5 baht/U.S.$
Source: Average actual prices received from exporters

Export prices increased around 1 percent due to the continued strengthening of the Thai Baht vis-à-vis the U.S. dollar (29.5 baht/US compared to around 30.0 baht/US in the previous week). In addition, exportable supplies remain tight as rice paddy pledges under the current MY2012/13 main-crop Paddy Pledging Program increased to an estimated 9 million metric tons (roughly 6 million metric tons milled equivalent), up around 70 percent from the same period last year.

To help consumers cope with the rapidly rising domestic rice prices (8-10 percent), domestic rice traders urged the government to sell its stocks of old-crop fragrant and white rice at discounted prices for domestic sales. The Sub-Committee on Rice Stock Release is expected to consider the proposal this week.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for January 14-20, 2013 totaled 87,672 metric tons, down 7,324 metric tons from the previous week. Exports of white rice and parboiled rice from January 1 – 20, 2013 totaled 236,107 metric tons, up 15.8 percent (203,961 metric tons) from last year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) from January 1 – December 31, 2012 amounted to 6.9 million metric tons, down 35 percent (10.65 million metric tons) from the same period last year.

January 2013

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