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


20 February 2014

USDA GAIN: Thailand Weekly Rice Price - 11 February 2014USDA GAIN: Thailand Weekly Rice Price - 11 February 2014

Domestic and export prices remained unchanged. The government is expected to conduct tenders totaling 709,589 metric tons of rice this week.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Domestic and export prices remained unchanged from the previous week. The government continues to seek funds to help finance the current MY2013/14 Main-Crop Rice Paddy Pledging Program through the sales of its rice stocks. Thus, the government expects to conduct tenders totaling 709,589 metric tons of rice this week. On February 12, 2014 the Ministry of Commerce’s Foreign Trade Department announced that it will conduct an open tender of 467,623 metric tons, most of which are old-crop rice stocks from its MY2011/12 pledging program (Table 2). Approximately, 100,000 metric tons are 5% grade white rice for export only. In addition, on February 13, 2014 the government will conduct another tender of 241,966 metric tons through the Agricultural Futures Exchange of Thailand. The tender will consist of 167,463 metric tons of 5% grade white rice and 74,503 metric tons of 100% B grade fragrant rice from MY2012/13 and MY2013/14 rice stocks.

As for the current MY2013/14 Main-Crop Rice Paddy Pledging Program, the government has reportedly received approximately 10.8 million metric tons of main-crop rice paddy (7.1 million metric milled equivalent – Table 3). As of February 5, 2014, the Bank for Agriculture and Agricultural Cooperatives (BAAC) has reportedly paid approximately 60 billion baht ($1.8 billion) in loans to 0.5 million rice farm households. The BAAC indicated that 1.4 million farm households remained unpaid totaling 7 million metric tons of paddy worth approximately 116 billion baht ($3.5 billion).

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for February 3-9, 2014 totaled 68,623 metric tons, up 2,745 metric tons from the previous week and up 6,287 metric tons from the four- week moving average of 62,336 metric tons (Table 4). Rice exports from January 1 – February 9, 2014 totaled 321,103 metric tons, down 36.9 percent from 509,074 metric tons in the same period last year.

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