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


06 August 2012

USDA GAIN: Thailand Weekly Rice Price - 6 August 2012USDA GAIN: Thailand Weekly Rice Price - 6 August 2012

TH2077 Domestic and export prices for most grades of rice did not change significantly. The Government is considering overhauling the criteria for the Paddy Pledging Program to limit the amount of paddy that can be pledged as the current program is reportedly biased against large farmers.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices for most grades of rice did not change significantly from the previous week due to quiet trading activity. Thai rice prices remained $150-160/MT higher than Indian and Vietnamese rice due to the current Paddy Pledging Program. The Government is considering overhauling the criteria of the Paddy Pledging Program for MY2012/13 crop which will begin in October 2012. A restriction will likely be imposed on the amount of paddy that can be pledged as the current program is reportedly biased against large farmers. Around 1.3 million farm households have participated in the MY2011/12 main-crop Paddy Pledging Program, which accounts for around 34.0 percent of total rice-farm households. The Government is considering limiting the interest-free loan eligibility to 500,000 baht/farm household ($15,873/farm household) for the 2012/13 Paddy Pledging Program. Meanwhile, the intervention prices will likely remain unchanged at 15,000 baht/ton ($476/MT) for white rice paddy, and 20,000 baht/ton ($635/MT) for fragrant rice paddy.

So far, the MY2011/12 Paddy Pledging Program has pledged 16.6 million tons of paddy (roughly 11.0 Bangkokmillion tons milled equivalent), of which 6.8 million tons are main-crop paddy (Table 2) and 9.8 million tons are off-season crop paddy (Table 3). Weekly pledging declined to 67,055 tons of paddy, down 39.0 percent from 109,996 tons in the week before last. However, the Government expects additional 2.0 million tons of paddy will likely be pledged by the end of the program on September 15, 2012.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for July 23-29, 2012 totaled 110,006 tons, up 20,475 tons from the previous week, and up 27,053 tons from the four-week moving average of 82,953 tons.

Exports of white rice and parboiled rice during January1 – July 29, 2012 totaled 2,928,108 tons, down 50.5 percent from 5,916,350 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 23, 2012 amounted to 3,780,680 tons, down 46.8 percent from 7,108,686 tons in the previous year.

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