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


08 September 2014

USDA GAIN: Thailand Weekly Rice Price - 3 September 2014USDA GAIN: Thailand Weekly Rice Price - 3 September 2014

TH4075 – Export prices declined 2 percent due to new supplies of off-season rice harvest and anticipated sales of government rice stocks. New government-to-government contract with China has reportedly settled at $450/MT.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Export prices declined approximately 2 percent from the previous week due to the increase in domestic supplies from the off-season rice harvest and anticipated sales of the government stocks. The new MY2013/14 off-season rice harvest is well underway. Also, the government announced that it would issue the new public tender for rice stocks by mid-September 2014. The details of the tender are likely to be announced early next week.

According to the new government-to-government contract of 100,000 metric tons of new-crop 5 percent grade white rice, the Thai and Chinese governments have reportedly settled the prices at $450/MT (FOB). The deliveries which will begin in September are subcontracted to rice exporters as the government has only old-crop rice in the stocks. The eligible exporters will reportedly receive a $20/MT subsidy from the government. The subsidy will be paid in rice totaling approximately 5,000 metric tons of old-crop 5 percent grade white rice from the government stocks.

Rice Export Update

Unofficial rice exports (excluding premium white and fragrant rice) for August 25-31, 2014 totaled 123,937 metric tons, down 1,981 metric tons from the previous week and up 6,590 metric tons from the four-week moving average of 117,346 metric tons (Table 2). Rice exports from January 1 – August 31, 2014, totaled 3,354,969 metric tons, up 56 percent from the same period last year.

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