TheCropSite.com- news, features, articles and disease information for the crop industry

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


16 October 2012

USDA GAIN: Thailand Weekly Rice Price - 16 October 2012USDA GAIN: Thailand Weekly Rice Price - 16 October 2012

TH 2102 – Export prices declined 1-2 percent as the Thai Government continued to sell its rice stocks to help finance the MY2012/13 main-crop Paddy Pledging Program. The government sold around 287,300 metric tons of rice through its open tenders, which generated approximately 5.2 billion baht ($175 million).
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined 1-2 percent from the previous week as the government continued to sell its rice stocks to help finance the 240 billion baht ($8 billion) MY2012/13 main-crop Paddy Pledging Program. According to government sources, the program will be funded by a 150 billion baht ($5.0 billion) loan from government banks and 90 billion baht ($3 billion) from the sale of government rice stocks. The Thai Government has conducted two open tenders of around 864,100 metric tons of rice from the MY2011/12 Paddy Pledging Program since August 2012 (Table 2). Around 287,300 metric tons of rice, valued at approximately 5.2 billion baht ($175 million), was sold through the two tenders. The final bids were approximately 10-20 percent below market prices. The Thai Government is expected to conduct another tender in the next couple of weeks. Details of the tender have not yet been finalized.

The Thai Government is currently holding total intervention stocks of around 14-15 million metric tons; Bangkokof which 1-2 million metric tons are old-crop rice. As of September 13, 2012, the MY2011/12 Paddy Pledging Program pledged 20.7 million metric tons of paddy (13.7 million metric tons milled equivalent); of which 7.0 million metric tons are main-crop paddy (4.6 million metric tons milled equivalent - Table 3) worth 119 billion baht ($4.0 billion). 13.8 million metric tons are off-season crop paddy (9.1 million metric tons milled equivalent - Table 4). To date, the Bank for Agriculture and Agricultural Cooperatives (BAAC) has provided a loan of 190 billion baht ($6.3 billion) for the offseason crop Paddy Pledging Program. The Thai Government is seeking Cabinet approval for another 20 billion baht ($670 million) to finance an additional 1.0 million tons of off-season crop paddy.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for October 1-7, 2012 totaled 97,446 tons, down 1,476 metric tons from the previous week and up 6,478 metric tons from the four-week moving average of 90,967 tons. Exports of white and parboiled rice from January 1- October 7, 2012 totaled 3,724,881 tons, down 49.1 percent (7,317,695 tons) from last year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) from January 1 – September 27, 2012 amounted to 4,941,963 tons, down 44.6 percent (8,920,781 tons) from last year.

DOWNLOAD REPORT:- Download this report here

Share This


Related Reports

Reports By Country

Reports By Category

Our Sponsors

Partners