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


24 February 2014

USDA GAIN: Thailand Weekly Rice Price - 18 February 2014USDA GAIN: Thailand Weekly Rice Price - 18 February 2014

TH4016 – Export prices increased 1 to 6 percent due to the strengthening of the Thai baht. The Thai government has not yet finalized its previous rice stock tenders, however, it will likely conduct another tender of 300,000 metric tons next week.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Export prices increased 1 to 6 percent from the previous week due to the strengthening of the Thai baht to 32 baht/US$ from 32.7 baht/US$ in the previous week. The Thai government has not yet finalized the tenders consisting of 709,589 metric tons it carried out on February 12, 2014. The Ministry of Commerce’s Department of Foreign Trade reported that eighteen traders participated in the open tender of 467,623 metric tons (Table 2). Five of the participants were reportedly large exporters. The bids were approximately 15 percent and 30 percent below market prices for the old-crop 5% grade white rice and 100 B grade fragrant rice. Meanwhile, in the tender of 241,966 metric tons via the Agricultural Futures Exchange of Thailand, seventeen traders and exporters participated in the bidding for old- and new-crop rice stocks. The bids were reportedly 12-24 percent below the market prices for white rice and 6-15 percent for fragrant rice. The government also announced that it will conduct another tender of around 300,000 metric tons next week as it seeks funds to finance the current MY2013/14 Main-Crop Rice Paddy Pledging Program. The details of the tender have not yet been finalized.

As for the current MY2013/14 Main-Crop Rice Paddy Pledging Program, the government has reportedly received approximately 10.9 million metric tons of main-crop rice paddy (7.2 million metric milled equivalent – Table 3). As of February 11, 2014, the Bank for Agriculture and Agricultural Cooperatives (BAAC) has reportedly paid approximately 62 billion baht ($1.9 billion) in loans to 0.5 million rice farm households.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for February 10-16, 2014 totaled 63,400 metric tons, down 5,223 metric tons from the previous week and up 2,165 metric tons from the four- week moving average of 61,235 metric tons (Table 4). Rice exports from January 1 – February 16, 2014 totaled 384,502 metric tons, down 34 percent from 578,394 metric tons in the same period last year.

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