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


16 May 2013

USDA GAIN: Thailand Weekly Rice Price - 16 May 2013USDA GAIN: Thailand Weekly Rice Price - 16 May 2013

TH3045 – Domestic and export prices declined approximately 1-2 percent as the government is reportedly speeding up its rice stock sales. The government is estimated to hold total rice stocks of approximately 16 million metric tons milled rice.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined approximately 1-2 percent due to the government stock sales. The government is reportedly speeding up its old-crop rice stock sales in the closed tenders due to limited financial resources to finance the current MY2012/13 Off-Season Rice Paddy Pledging Program. The program will cost approximately 105 billion baht ($3.5 billion) for the pledging target of 7 million metric tons of paddy. The program, which began on April 1, 2013 and will runs until September 15, 2013, preliminarily received pledges of 2.0 million metric tons of paddy (1.3 million metric tons milled equivalent as of April 30, 2013), most of which was white rice paddy. Presently, the government is estimated to hold rice stocks of approximately 16 million metric tons milled rice, of which around 8 million tons (mostly white rice) are carry-over stocks from the previous pledging program; and the remainder is rice stocks from current pledging program. Also, the Thai baht has weakened further to 29.4 baht/US$, as compared to 29.2 baht/$ in the previous week.

Table 1: Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending May 7, 2013

Exchange rate: 29.4 baht/U.S.$
Source: Average actual prices received from exporters

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for April 29 – May 5, 2013 totaled 39,819 metric tons, down 37,226 metric tons from the previous week, and down 19,950 metric tons from the four- week moving average of 59,769 metric tons. Exports of white and parboiled rice from January 1 through May 5, 2013 totaled 1,379,754 metric tons, down 21.9 percent (1,766,728 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 through March 31, 2013 amounted to approximately 1,543,953 metric tons, down 6.8 percent (1,655,747 metric tons) from the same period last year.

May 2013

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