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


28 October 2013

USDA GAIN: Thailand Weekly Rice Price - 22 October 2013USDA GAIN: Thailand Weekly Rice Price - 22 October 2013

TH3097 – Export prices remain unchanged from the previous week as traders and exporters waited to see if the sales of government rice stocks showed any impact on the Agricultural Futures Exchange of Thailand.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Domestic and export prices remained unchanged from the previous week. On October 25, 2013, the government announced additional sales of approximately 0.5 to 1 million metric tons of government-owned rice stocks on the Agricultural Futures Exchange of Thailand (AFET). The first tender will total 140,444 metric tons, which consist of 109,775 metric tons of 5% grade white rice and 30,669 metric tons of 100% B grade fragrant rice for delivery during December 2013 through February 2014. Few exporters are expected to participate in the AFET tender as it will be more cost effective for them to obtain the government rice stocks through internal and public tenders which are still open for them. The government admitted that it is holding rice stocks of approximately 15 million metric tons. It expects to sell additional stocks of rice worth 30 billion baht in the last quarter of this year to repay the loans the Bank for Agricultural and Agricultural Cooperatives (BAAC) issued under the pledging program.

Rice Export Update

Unofficial rice exports (excluding premium white and fragrant rice) for October 14-20, 2013 totaled 55,625 metric tons, down 10,725 metric tons from the previous week, and down 16,937 metric tons from the four- week moving average of 72,561 metric tons (Table 2). Exports of white and parboiled rice from January 1 through October 20, 2013 totaled 2,686,455 metric tons, down 32 percent from 3,973,765 metric tons in the same period last year as Thai rice prices remain uncompetitive, particularly with Vietnamese and Indian rice.

Total rice exports (including premium white and fragrant rice) from January 1 through September 30, 2013 amounted to approximately 4.6 million metric tons, down 8 percent from the same period last year.

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