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


25 June 2012

USDA GAIN: Thailand Weekly Rice Price Update - 20 June 2012USDA GAIN: Thailand Weekly Rice Price Update - 20 June 2012

Domestic and export prices further declined slightly 0-1 percent in anticipation of an intervention stock release.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Report Highlights:

The Government will conduct a tender on June 19-21 for 229,804 tons of 100% B grade fragrant rice and 20,733 tons of 5% grade white rice.

Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending Jun. 18, 2012

Domestic and export prices further declined slightly 0-1 percent as the Government decided to release its intervention stocks from MY2011/12 main-crop Paddy Pledging Program. The tender will be conducted between June 19-21, 2012 for 229,804 tons of 100% B grade fragrant rice and 20,733 tons of 5% grade white rice. The release of white rice is conditional on exports due to the concern on the resulting downward domestic price pressure from the current off-season crop harvest. Exporters expect that the gradual release of white rice will cause export prices to level off until the new main crop will be harvested in November 2012.

Presently, the Government is holding total intervention stocks of around 12.3 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 10.3 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 8.7 million tons of paddy (5.8 million tons milled equivalent) since it began on March 1 up to June 17, 2012 (Table 3). The total weekly pledging declined to 394,250 tons of paddy, down 10.3 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 has been harvested.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for June 11-17, 2012 totaled 77,910 tons, down 7,813 tons from the previous week, and down 12,928 tons from the four-week moving average of 90,838 tons. Exports of white rice and parboiled rice during January1 – June 17, 2012 totaled 2,396,498 tons, down 49.8 percent from 4,775,076 tons in the previous year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) during January 1 – June 12, 2012 amounted to 3,077,704 tons, down 45.3 percent from 5,623,628 tons in the previous year.

June 2012

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