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


09 July 2012

USDA GAIN: Thailand Weekly Rice Price - 9 July 2012USDA GAIN: Thailand Weekly Rice Price - 9 July 2012

TH2065 Domestic and export prices declined 1-3 percent due to a lack of new enquiries. The Government cancelled the tender for white rice and fragrant rice last week. Meanwhile, the Government is in process of finalizing a new tender.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices decline 1-3 percent from the previous week due to a lack of new enquiries. Foreign buyers are placing new orders for Vietnamese and Indian rice which is $180-190/MT cheaper.

As for the June 19-21, 2012 tender for 229,804 tons of 100% B grade fragrant rice and 20,733 tons of 5% grade white rice from the MY2011/12 main-crop Paddy Pledging Program, the Government cancelled the tender as the bidding offers were 5-10 percent below market prices. Meanwhile, the Government is in process of finalizing drafting the conditions for a new tender. However, there is a rumor that portion of the stocks have been privately released to large exporters as the Government wants to make the release low-key to avoid the impact on domestic prices.

Presently, the Government is holding total stocks of around 12.7 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 10.7 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 Bangkokhas absorbed 9.3 million tons of paddy (6.2 million tons milled equivalent) since it began on March 1 up to July 1, 2012 (Table 3). The total weekly pledging declined to 221,357 tons of paddy, down 40.6 percent from the previous week. The Government expects that the weekly pledging will likely slow down from July onwards as around 90 percent of the off-season crop has been harvested.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for June 25 – July 1, 2012 totaled 100,306 tons, up 823 tons from the previous week, and up 13,357 tons from the four-week moving average of 86,946 tons. Exports of white rice and parboiled rice during January1 – July 1, 2012 totaled 2,596,287 tons, down 50.2 percent from 5,207,862 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 26, 2012 amounted to 3,370,170 tons, down 45.5 percent from 6,181,500 tons in the previous year.

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