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


29 May 2013

USDA GAIN: Thailand Weekly Rice Price - 29 May 2013USDA GAIN: Thailand Weekly Rice Price - 29 May 2013

TH3047 – Domestic and export prices declined one percent as the National Rice Policy Committee urged the Ministry of Commerce to sell its rice stocks to support the MY2013/14 Main-Crop Rice Paddy Pledging Program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined approximately one percent due to larger exportable supplies from the government rice stocks. Last week the National Rice Policy Committee urged the Ministry of Commerce to sell its rice stocks to support the MY2013/14 Main-Crop Rice Paddy Pledging Program, which is expected to begin on October 1, 2013. The government is unlikely to provide additional loans on top of the 500 billion baht ($17 billion) already approved by the Thai Cabinet due to the concern about public debt. The details of the MY2013/14 Main-Crop Rice Paddy Pledging Program have not yet been finalized.

Table 1: Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending May 20, 2013

Exchange rate: 29.7 baht/U.S.$
Source: Average actual prices received from exporters

The MY 2012/13 Main-Crop Rice Paddy Pledging Program (October 1, 2012 – March 31, 2013) received pledges of approximately 14.2 million metric tons (9.4 million metric tons milled equivalent). Meanwhile, the current MY2012/13 Off-Season Rice Paddy Pledging Program, which began on April 1, 2013 and will run until September 15, 2013, has already received pledges of approximately 3.0 million metric tons of paddy (2.0 million metric tons milled equivalent as of May 10, 2013), most of it in the form of white rice paddy. Presently, the government is holding rice stocks of approximately 17 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 this year’s pledges.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for May 13-19, 2013 totaled 51,816 metric tons, up 25,418 metric tons from the previous week, and up 3,046 metric tons from the four- week moving average of 48,769 metric tons. Exports of white and parboiled rice from January 1 through May 19, 2013 totaled 1,457,967 metric tons, down 28.0 percent (2,025,425 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 through April 30, 2013 amounted to approximately 2.01 million metric tons, down 10.3 percent (2.24 million metric tons) from the same period last year.

May 2013

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