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


05 February 2013

USDA GAIN: Thailand Weekly Rice Price Update - 5 February 2013USDA GAIN: Thailand Weekly Rice Price Update - 5 February 2013

TH 3015 – Export prices declined around one percent due to the weakening of the Thai Baht. Domestic rice traders are demanding the government sell its rice stocks of approximately 300,000 tons due to tight domestic supplies caused by the pledging program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Author Defined:

Market Tone

Export prices declined around one percent due to the weakening of the Thai Baht vis-à-vis the U.S. dollar (29.8 baht/US compared to around 29.5 baht/US in the previous week). New enquiries for Thai white rice are quiet as foreign buyers mostly purchased Vietnamese rice which is currently $160-180/MT cheaper. Meanwhile, exportable supplies of Thai rice remain tight as rice paddy pledges under the current MY2012/13 main-crop Paddy Pledging Program increased to an estimated 9.0 million metric tons (roughly 6.0 million metric tons milled equivalent), up around 70 percent from the same period last year. Domestic rice traders are demanding the government sell its rice stocks of approximately 300,000 tons, particularly for fragrant rice due to current tight domestic supplies caused by the pledging program. Current domestic prices of fragrant rice are 11 percent higher compared to the same period last year. Presently, the government is estimated to hold rice stocks of approximately 16 million metric tons, of which approximately 9-10 million metric tons are carry-over stocks from the previous pledging program; and the remainder is rice stocks from the current pledging program. White rice accounts for 70-80 percent of the total intervention stocks.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for January 21-27, 2013 totaled 102,573 metric tons, up 14,902 metric tons from the previous week, and up 17,903 metric tons from the four- week moving average of 84,670 metric tons. Exports of white rice and parboiled rice from January 1 – 27, 2013 total 338,680 metric tons, up 24.7 percent (271,614 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.

February 2013

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