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


24 July 2012

USDA GAIN: Thailand Weekly Rice Price Update - 24 July 2012USDA GAIN: Thailand Weekly Rice Price Update - 24 July 2012

TH2070 Domestic and export prices declined 3.0 – 4.0 percent from the previous week due to a lack of new enquiries. The state-run Bank for Agriculture and Agricultural Cooperatives urged the Government to release rice stocks due to current limited warehouse space and tight credit supply.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined 3.0 – 4.0 percent from the previous week due to a lack of new enquiries from foreign buyers. Thai rice prices are currently $160-170/MT higher than Vietnam and India. Also, the state-run Bank for Agriculture and Agricultural Cooperatives (BAAC) urged the Government to release rice stocks due to current limited warehouse space and tight credit supply. So far, the BAAC has provided loans worth 260 billion baht ($8.4 billion) for the current MY2011/12 Paddy Pledging Program which has absorbed 16.5 million tons of paddy (10.9 million tons milled equivalent), of which 6.8 million tons are main-crop paddy (Table 2) worth 120 billion baht ($3.9 billion), and 9.7 million tons are off-season-crop paddy (Table 3) worth 140 billion baht ($4.5 billion).

Of the total loan, approximately 170 billion baht ($5.5 billion) have been covered by loans from government banks other than BAAC. The Government has to release stocks or provide additional loans to enable BAAC to continue the Paddy Pledging Program for the coming MY2012/13 crop. Presently, the Government has accumulated rice stocks of around 12.9 million tons milled equivalent, of which 2.0 Bangkokmillion tons are old-crop intervention stocks, and 10.9 million tons are MY2011/12 crop.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for July 9-15, 2012 totaled 49,526 tons, down 33,223 tons from the previous week, and down 33,490 tons from the four-week moving average of 83,016 tons. Exports of white rice and parboiled rice during January1 – July 15, 2012 totaled 2,728,571 tons, down 51.1 percent from 5,575,874 tons in the previous year. According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) during January 1 – July 10, 2012 amounted to 3,600,153 tons, down 45.9 percent from 6,650,797 tons in the previous year.

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