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


31 March 2014

USDA GAIN: Thailand Weekly Rice Price - 25 March 2014USDA GAIN: Thailand Weekly Rice Price - 25 March 2014

TH4027 – Domestic and export prices declined one percent due to the sales of government rice stocks and the weakening of the Thai baht. The government will issue another tender of 233,723 metric tons of rice via the AFET on March 26.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

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Bangkok

Domestic and export prices declined approximately one percent from the previous week due to the sales of government rice stocks and the weakening of the Thai baht (32.5 baht/US$ compared to 32 baht/US$ in the previous week). On March 19, 2014 the government conducted a tender of 244,454 metric tons of white and fragrant rice through the Futures Exchange of Thailand (AFET). Seven exporters and millers participated in the tender, which consisted of 103,522 metric tons of 5% grade white rice and 2,000 metric tons of 100% B grade fragrant white rice. The bids were 20-30 percent below market prices. The government is expected to issue another tender of 233,723 metric tons via the AFET on March 26, consisting of 183,139 metric tons of 5% grade white rice and 50,584 metric tons of fragrant white rice from MY2012/13 and MY2013/14 rice stocks. The revenues generated by these bids will be provided to the Bank for Agricultural and Agricultural Cooperatives (BAAC) to finance the MY2013/14 Main-Crop Rice Paddy Pledging Program.

As of March 23, 2014, the government has reportedly received approximately 11.6 million metric tons of main-crop rice paddy (7.7 million metric milled equivalent – Table 2) under the MY2013/14 Main-Crop Rice Paddy Pledging Program. The BAAC has reportedly loaned approximately 72 billion baht ($2.2 billion) to 0.7 million rice farm households. The program is being financed through the revenue generated from the sales of government rice stocks.

Rice Export Update

Unofficial rice exports (excluding premium white and fragrant rice) for March 17-23, 2014 totaled 76,213 metric tons, up 10,112 metric tons from the previous week and up 4,020 metric tons from the four- week moving average of 72,193 metric tons (Table 3). Rice exports from January 1 – March 23, 2014 totaled 753,172 metric tons, down 24 percent from the same period last year.

According to the Thai Customs Department, the official rice exports (including premium white rice and fragrant rice) during January 1 – February 28, 2014 totaled 1.4 million metric tons, up around 40 percent from the same period last year. Exports are being driven by the sales of government’s rice stocks.

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