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


26 February 2013

USDA GAIN: Thailand Weekly Rice Price Update - 25 February 2013USDA GAIN: Thailand Weekly Rice Price Update - 25 February 2013

Highlights: TH 3021 – Domestic and export prices remain unchanged due to quiet trading. The new MY2012/13 Off-Season Paddy Pledging Program still has not been finalized due to limited financial resources.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Table 1: Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending Feb 18, 2013

Exchange rate: 29.8 baht/U.S.$
Source: Average actual prices received from exporters

Domestic and export prices remained unchanged from last week’s numbers due to quiet trading. Foreign buyers mostly purchased Vietnamese rice, which is around $150/metric ton (MT) cheaper than Thai rice. The current MY2012/13 Main-Crop Paddy Pledging Program, which began on October 1, 2012 and runs until February 28, 2013, has preliminarily received pledges of approximately 10.2 million metric tons (6.7 million metric tons milled equivalent), up around 61 percent from the same period last year. The new MY2012/13 Off-Season Paddy Pledging Program still has not been finalized due to financial constraints, particularly tighter liquidity in the Bank for Agriculture and Agricultural Cooperatives (BAAC) and slow government rice stock sales. The program will likely cost around 165 billion baht ($5.5 billion) for a pledging target of 11 million metric tons of paddy.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for February 11-17, 2013 totaled 72,171 metric tons, down 16,523 metric tons from the previous week, and down 17,365 metric tons from the four- week moving average of 89,537 metric tons. Exports of white and parboiled rice from January 1 – February 17, 2013 totaled 582,610 metric tons, up 13.9 percent (560,949 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 – 31, 2013 amounted to 573,853 metric tons, up 30.5 percent from the same period last year.

February 2013

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