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Thai Domestic, Export Rice Prices Decline Further

28 June 2012
USDA Foreign Agricultural Service

THAILAND - Domestic and export prices further declined slightly 0-1 per cent as the Government decided to release its intervention stocks from MY2011/12 main-crop Paddy Pledging Programme.

The tender will be conducted between June 19-21, 2012 for 229,804 tons of 100 per cent B grade fragrant rice and 20,733 tons of 5 per cent grade white rice.

The release of white rice is conditional on exports due to the concern on the resulting downward domestic price pressure from the current off-season crop harvest.

Exporters expect that the gradual release of white rice will cause export prices to level off until the new main crop will be harvested in November 2012.

Presently, the Government is holding total intervention stocks of around 12.3 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 10.3 million tons are MY2011/12 crop.

The MY2011/12 main-crop Paddy Pledging Programme took delivery of a total of 6.8 million tons of paddy (4.5 million tons milled equivalent).

The current off-season Paddy Pleading Programme has absorbed 8.7 million tons of paddy (5.8 million tons milled equivalent) since it began on March 1 up to June 17, 2012.

The total weekly pledging declined to 394,250 tons of paddy, down 10.3 per cent from the previous week. The Government expects that the weekly pledging will likely slow down from July onwards and finish at 9.0 million tons of paddy (5.9 million tons milled equivalent) as around 90 per cent of the off-season crop has been harvested.

Further Reading

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