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


27 January 2014

USDA GAIN: Thailand Weekly Rice Price - 21 January 2014USDA GAIN: Thailand Weekly Rice Price - 21 January 2014

TH4006 – Domestic and export prices increased 1 to 2 percent as the sales of government rice stocks are on hold due to allegations of fraud in government-to-government rice contracts.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Domestic and export prices increased 1 to 2 percent as the caretaker government has halted government-to-government rice sales after the National Anti-Corruption Commission (NACC) indicated that it would bring corruption charges against officials overseeing alleged fraudulent rice deals. Meanwhile, the government will continue to conduct a public tender through the Agricultural Futures Exchange of Thailand (AFET) on January 22, 2014. The tender will consist of 110,480 metric tons of white rice from its MY2012/13 and MY2013/14 main-crop rice stocks and 38,460 metric tons of 100% B grade fragrant rice from MY2013/14 main-crop rice stocks.

As for the current MY2013/14 Rice Paddy Pledging Program, the government has reportedly received approximately 10.5 million metric tons of rice paddy (6.9 million metric milled equivalent – Table 2). According to the Bank for Agriculture and Agricultural Cooperatives (BAAC), it has already paid approximately 43 billion baht ($1.3 billion) in loans to farmers as of January 14, 2014. The caretaker government is seeking approval from the Election Committee for additional government-guaranteed loans totaling 130 billion baht ($4 billion) to help support the program.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for January 13-19, 2014 totaled 67,805 metric tons, up 18,079 metric tons from the previous week and up 16,448 metric tons from the four- week moving average of 51,357 metric tons (Table 3). Rice exports from January 1 – 19, 2014 totaled 139,563 metric tons, down 40 percent from 231,706 metric tons in the same period last year.

Total rice exports (including premium white rice and fragrant rice) from January 1 through December 16, 2013 amounted to approximately 6.4 million metric tons, down 3.7 percent from the same period last year.

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