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


03 February 2014

USDA GAIN: Thailand Weekly Rice Price - 28 January 2014USDA GAIN: Thailand Weekly Rice Price - 28 January 2014

TH4009 – Domestic and export prices increased slightly due to the lack of government rice sales.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

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Bangkok

Domestic and export prices increased slightly due to the lack of government rice sales. The National Anti-Corruption Commission (NACC) is currently investigating fraud allegations involving government-to-government rice deals, including internal tenders. As a result, government-to-government rice deals have been suspended.

The Agricultural Futures Exchange of Thailand (AFET) reported that 19 traders participated in last week’s public tender that occurred on January 22, 2014. The tender consisted of 110,480 metric tons of 5% grade white rice from government-owned 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. The bids were approximately 17 and 9 percent below the market prices for white and fragrant rice. The result of the tender has not yet been finalized.

As for the current MY2013/14 Main-Crop Rice Paddy Pledging Program, the government has reportedly received approximately 10.7 million metric tons of rice paddy (7.1 million metric milled equivalent – Table 2). As of January 19, 2014, the Bank for Agriculture and Agricultural Cooperatives (BAAC) has reportedly paid approximately 50 billion baht ($1.5 billion) in loans to rice farmers for 3.5 million metric tons of pledges. The BAAC indicated that the current program is likely to cost approximately 190 billion baht ($5.8 billion) for anticipated total pledges of 11 to 12 million metric tons. The caretaker government has received preliminary approval to raise an additional 130 billion baht ($4 billion) to support the current program. The government has already guaranteed loans totaling 410 billion baht for the 2011/12 and 2012/13 pledging programs.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for January 20-26, 2014 totaled 47,038 metric tons, down 20,768 metric tons from the previous week and up 387 metric tons from the four- week moving average of 46,650 metric tons (Table 3). Rice exports from January 1 – 26, 2014 totaled 186,601 metric tons, down 45 percent from 337,680 metric tons in the same period last year.

Total rice exports (including premium white rice and fragrant rice) from January 1 through December 31, 2013 preliminarily amounted to 6.6 million metric tons, down 5 percent from the same period in 2012.

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