USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed
26 August 2014
USDA GAIN: Thailand Weekly Rice Price - 20 August 2014
TH4071 – Export prices increased 1 to 4 percent due to tight domestic supplies. The government’s approval of its rice stock sales was lower than market expectations.
Post:
Bangkok
Export prices increased 1 to 4 percent from the previous week as domestic supplies remained tight due to lower-than-expected sales of the government rice stocks. The military government sold only 73,200 metric tons worth approximately 740 million baht ($23 million) to eleven exporters and millers in its first public tender (approximately 168,000 metric tons – Table 2), held on August 7, 2014. The sales reportedly consisted of 30,000 – 40,000 metric tons of 5 percent grade white rice at approximately 12,000 baht per metric ton ($375/MT) compared to the market prices of 12,800 – 13,000 baht per metric tons ($400-406/MT). The remainder was mostly broken white rice. Traders expect the government will issue new tenders early in September.
Rice Export Update
Unofficial rice exports (excluding premium white and fragrant rice) for August 11-17, 2014 totaled 106,365 metric tons, down 6,801 metric tons from the previous week and down 8,173 metric tons from the four-week moving average of 114,538 metric tons (Table 3). Rice exports from January 1 – August 17, 2014, totaled 3,105,115 metric tons, up 52 percent from the same period last year.
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