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


10 April 2012

USDA GAIN: Thailand Weekly Rice Price UpdateUSDA GAIN: Thailand Weekly Rice Price Update

TH2034 Domestic and export prices declined 1-2 percent as new enquiries for parboiled rice dried up and the outstanding contracts with Nigeria will likely be fulfilled in the next couple of weeks.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined 1-2 percent from the previous week as new enquiries for parboiled rice dried up, particularly from Nigeria which has been the most active buyer in the past three months.

Also, Thai rice exporters are expected to fulfill their parboiled rice outstanding contracts with Nigeria in the next couple of weeks as the shipments have to arrive by June 2012 to avoid a higher new applied import tariff rate of 53 percent which will be effective in July.

Presently, the Government is holding total intervention stocks of around 8.0 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 6.0 million tons are MY2011/12 crop.

The MY2011/12 main-crop Paddy Pledging Program took delivery of a total of 6.8 million tons of paddy (4.5 million tons milled equivalent (Table 2). The remainder is from the current off-season Paddy Pleading Program which has absorbed 2.3 million tons of paddy (1.5 million tons milled Bangkokequivalent) since it began on March 1 up to April 1. The total weekly pledging increased by 0.5 million tons or 22 percent from last week’s total of 1.7 million tons (Table 3). The Government expects that the program will pledge around 8.0 million tons of paddy (5.3 million tons milled equivalent), accounting for 72.0 percent of the total off-season production.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for March 26 – April 1, 2012 totaled 109,527 tons, down 7,068 tons from the previous week, and up 4,553 tons from the four-week moving average of 104,974 tons. Exports of white rice and parboiled rice during January1 – April 1, 2012 totaled 1,206,490 tons, down 51.9 percent from 2,506,117 tons in the previous year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) during January 1 – March 27, 2012 amounted to 1,464,114 tons, down 48.7 percent from 2,851,383 tons in the previous year.

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