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


09 April 2013

USDA GAIN: Thailand Weekly Rice Price Update - 8 April 2013USDA GAIN: Thailand Weekly Rice Price Update - 8 April 2013

TH3034 – Domestic and export prices remain unchanged, except for parboiled rice, which declined 1 to 2 percent from the previous week. The Thai Cabinet approved the MY2012/13 Off-Season Rice Paddy Pledging Program worth 105 billion baht ($3.5 billion).
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

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

Exchange rate: 29.2 baht/U.S.$
Source: Average actual prices received from exporters

Domestic and export prices remain unchanged from the previous week, except for parboiled rice, which declined approximately 1 to 2 percent due to a lack of new inquiries. On March 30, 2013, the Thai Cabinet approved the MY2012/13 Off-Season Rice Paddy Pledging Program worth 105 billion baht ($3.5 billion). The program has a pledging target of 7 million metric tons of rice paddy. The Thai Cabinet kept intervention prices unchanged at 13,800 baht/MT to 15,000 baht/MT ($460/MT to $500/MT), which is 30 to 40 percent above the current farm gate prices. The program will be financed by the unused loan balance of the MY2012/13 Main-Crop Rice Paddy Pledging Program (approximately 40 billion baht or $1.3 billion) and the sale of government stocks, which has been paid to the Bank for Agriculture and Agricultural Cooperatives (BAAC) totaling approximately 85 to 90 billion baht ($2.8 – 3.0 billion).

The current MY2012/13 Main-Crop Paddy Pledging Program has preliminarily received pledges of approximately 11.1 million metric tons (7.3 million metric tons milled equivalent, as of March 14, 2013), which increased 60 percent from the same period last year. The pledges consist of 6.6 million metric tons of white rice paddy, 3.8 million metric tons of fragrant rice paddy, and 0.7 million metric tons of glutinous rice paddy. The BAAC has already provided loans to farmers totaling an estimated 179 billion baht ($6.0 billion).

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for March 25-31, 2013 totaled 71,921 metric tons, down 5,280 metric tons from the previous week, and down 1,624 metric tons from the four- week moving average of 73,544 metric tons. Exports of white and parboiled rice from January 1 through March 31, 2013 totaled 1,064,342 metric tons, down 11.7 percent (1,204,938 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 through February 28, 2013 amounted to 1,050,573 metric tons, down 0.5 percent from the same period last year.

April 2013

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