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


29 December 2014

USDA GAIN: Thailand Weekly Rice Price Update December 2014USDA GAIN: Thailand Weekly Rice Price Update December 2014


USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Report Highlights:

TH4131 – Export prices increased 1 percent due to lower-than-expected sales of government rice stocks. The government will only sell approximately 247,000 metric tons of the 400,000 metric ton tender it announced on December 22.

Market Tone

Export prices increased around 1 percent from the previous week due to lower-than-expected sales of government rice stocks. According to the public tender announced on December 22, 2014 for 398,242 metric tons (Table 2), the government reported that 21 millers and exporters were awarded a total of around 247,000 metric tons, mostly in the form of broken white rice (A1 Super grade). The bids were approximately 20 percent below market prices for broken white rice, 10 percent for 15% and 25% grade white rice, and 30 percent for glutinous rice. Average farm-gate prices (as of December 22, 2014) for white rice and fragrant rice paddy have declined approximately 2 to 3 percent from the same period last year to around 7,880 baht per metric ton ($239/MT) and 13,690 baht per metric ton ($415/MT), respectively.

Rice Export Update

Unofficial preliminary rice exports (excluding premium white and fragrant rice) for December 15-21, 2014 totaled 132,307 metric tons, down 8,116 metric tons from the previous week and up 7,295 metric tons from the four-week moving average of 125,012 metric tons (Table 3). Rice exports from January 1 – December 21, 2014, totaled 5,265,168 metric tons, up 61 percent from the same period last year.

 

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