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


25 April 2014

USDA GAIN: Thailand Weekly Rice Price - 17 April 2014USDA GAIN: Thailand Weekly Rice Price - 17 April 2014

TH4033 – There are no quotations this week due to the Thai New Year holiday. The Thai government continued to sell its rice stocks to finance the MY2013/14 rice pledging program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

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Bangkok

There are no quotations this week due to the 5-day Thai holiday. The trading will resume next week. According to news sources, last week the Government of the Philippines opened a tender to import 0.8 million metric tons of new-crop 15% grade white rice (April 15). Industry sources believe that Vietnamese traders will likely win the tender. Meanwhile, the Thai government continued to sell its rice stocks to finance the delayed payments associated with the MY2013/14 Main-Crop Rice Paddy Pledging Program. The government reportedly expects to approve the sale of around 0.5 million metric tons to eight exporters and millers in its April 9 tender (Table 2). The sale is expected to consist of approximately 0.2 million metric tons of 5% grade white rice and 0.3 million metric tons of broken rice. The government’s tender via the Futures Exchange of Thailand (AFET) on April 9 consisted of MY2012/13 and MY2013/14 white and fragrant rice stocks totaling 264,593 metric tons. The bids were reportedly 14-30 percent below market prices for white rice and 8-9 percent for fragrant rice.

As of April 16, 2014, the government reportedly received approximately 11.6 million metric tons of main-crop rice paddy (7.7 million metric milled equivalent – Table 3) under the MY2013/14 Main-Crop Rice Paddy Pledging Program. The Bank for Agriculture and Agricultural Cooperatives (BAAC) has reportedly paid approximately 93 billion baht ($2.9 billion) in loans to 0.8 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 April 7-13, 2014 totaled 89,767 metric tons, down 1,612 metric tons from the previous week and up 3,098 metric tons from the four- week moving average of 86,670 metric tons (Table 4). Rice exports from January 1 – April 13, 2014 totaled 1,023,639 metric tons, down 15 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, mainly due to an increase in white and parboiled rice exports driven by the sales of government’s rice stocks.

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