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


15 June 2012

USDA GAIN: Thailand Weekly Rice Price Update - 12 June 2012USDA GAIN: Thailand Weekly Rice Price Update - 12 June 2012

TH2058 Domestic and export prices declined 2-3 percent due to lack of new enquiries, particularly for parboiled rice. Also, the Government plans to release its intervention stocks from July onwards.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Report Highlights:

Domestic and export prices declined 2-3 percent due to lack of new enquiries, particularly for parboiled rice as Thai rice prices are approximately $220/MT higher than Indian rice. In addition, the Government plans to release its intervention stocks from July onwards. The release will not affect farmers as most of their off-season crop would have been harvested and pledged in the Paddy Pledging Program.

Presently, the Government is holding total intervention stocks of around 12.0 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 10.0 million tons are MY2011/12 crop. The MY2011/12 main-crop Paddy Pledging Program took delivery of a total of 6.8 million tons of paddy (4.5 million tons milled equivalent (Table 2)). The current off-season Paddy Pleading Program has absorbed 8.3 million tons of paddy (5.5 million tons milled equivalent) since it began on March 1 up to June 10, 2012 (Table 3). The total weekly pledging increased to around 439,310 million tons of paddy, up 18.3 percent from the previous week. The Government expects that the weekly pledging will likely slow down from July onwards and finish at 9.0 million tons of paddy (5.9 million tons milled equivalent) as around 90 percent of the off-season crop have been harvested.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for June 4-10, 2012 totaled 70,097 tons, down 9,088 tons from the previous week, and down 36,014 tons from the four-week moving average of 106,111 tons. Exports of white rice and parboiled rice during January1 – June 10, 2012 totaled 2,318,479 tons, down 49.2 percent from 4,562,240 tons in the previous year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) during January 1 – May 28, 2012 amounted to 2,862,770 tons, down 43.1 percent from 5,031,385 tons in the previous year.

June 2012

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