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


28 April 2014

USDA GAIN: Thailand Weekly Rice Price - 22 April 2014USDA GAIN: Thailand Weekly Rice Price - 22 April 2014

TH4035 – Export prices declined 1 to 3 percent as the government continued to sell its rice stocks to finance the delayed payments (approximately 100 billion baht or $3.1 billion) incurred under the MY2013/14 Main-Crop Rice Paddy Pledging Program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Domestic and export prices declined 1 to 3 percent due to the sales of the government rice stocks. The government continued to sell its rice stocks to generate the revenue to finance the delayed payments incurred under the MY2013/14 Main-Crop Rice Paddy Pledging Program. On April 23, the government is expected to issue a tender of 212,929 metric tons via the Futures Exchange of Thailand (AFET) for delivery during June to August 2013. The tender will consist of 50,584 metric tons of new-crop 100% B grade fragrant rice and 162,344 metric tons of old/new crop 5% grade white rice. Since October 2013, the government has issued tenders totaling 1.6 million metric tons via the AFET. As of March 2014, the government reportedly approved the sales of approximately 0.5 million metric tons of rice for delivery between January - July 2014. The sales reportedly generated around 6 to 7 billion baht ($185-215 million).

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 2) under the MY2013/14 Main-Crop Rice Paddy Pledging Program valued at around 190 billion baht ($5.8 billion). 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 14-20, 2014 totaled 34,389 metric tons, down 55,378 metric tons from the previous week and down 41,825 metric tons from the four- week moving average of 76,214 metric tons (Table 3). Rice exports from January 1 – April 20, 2014 totaled 1,058,028 metric tons, down 16 percent from the same period last year.

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