USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed
30 September 2013
USDA GAIN: Thailand Weekly Rice Price - 24 September 2013
TH3084 – Export prices increased slightly due to the concerns over the strengthening of the Thai baht. Meanwhile, domestic prices remain under downward pressure due to the sales of the government stocks.
Post:
Bangkok
Export prices increased slightly as some exporters are concerned about the current strengthening of the Thai baht which is approximately at 31.0 baht/US$, as compared to 31.5 baht/US$ in the previous week. Meanwhile, domestic prices generally trend downward due to the sales of the government stocks to finance the new MY2013/14 Rice Paddy Pledging Program which will begin on October 1, 2013. The government has estimated the program purchase cost will be approximately 270 billion baht ($8.7 billion). The program will have to be financed by the sales of the government stocks under the existing loans as the cabinet did not approve an expansion of the current fully utilized loan limit for the Bank for Agriculture and Agricultural Cooperatives (BAAC) to support this program.
Rice Export Update
Unofficial rice exports (excluding premium white rice and fragrant rice) for September 16 - 22, 2013 totaled 78,084 metric tons, down 5,887 metric tons from the previous week, and up 5,569 metric tons from the four- week moving average of 72,515 metric tons (Table 2). Exports of white and parboiled rice from January 1 through September 22, 2013 totaled 2,396,209 metric tons, down 32 percent from 3,521,963 metric tons in the same period last year.
Total rice exports (including premium white rice and fragrant rice) from January 1 through August 31, 2013 amounted to approximately 4.2 million metric tons, down 6.3 percent from the same period last year.
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