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


10 March 2014

USDA GAIN: Thailand Weekly Rice Price - 4 March 2014USDA GAIN: Thailand Weekly Rice Price - 4 March 2014

TH4019 – Domestic and export prices remained unchanged from the previous week. The government plans to conduct a public tender of around 0.5 million metric tons this week and another tender of 0.5 million metric tons via the AFET in the following weeks to help finance the current rice paddy pledging program.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Domestic and export prices remained unchanged from the previous week. The government announced that it will issue a public tender of 0.5 million metric tons of its rice stocks this week. In addition, on March 12 and 26, 2014 the government plans to issue public tenders of around 250,000 metric tons each via the Agricultural Futures Exchange of Thailand (AFET). The details of the tender have not been finalized.

As for tender on February 26, 2014 via the AFET, sixteen traders and exporters reportedly participated in the tender of 230,727 metric tons of government MY2012/13 and MY2013/14 rice stocks. The tenders consisted of 162,137 metric tons of 5% grade white rice and 68,590 metric tons of 100% B grade fragrant rice. The bids were approximately 15-30 percent below market prices for 5% grade white rice and 5-20 percent below market prices for 100% B grade fragrant rice. In the first two months of this year, the government has issued public tenders of approximately 1.1 million metric tons, of which 0.6 million metric tons were conducted through AFET. The revenues generated from the tenders will be provided to the Bank for Agricultural and Agricultural Cooperatives (BAAC) to finance the current MY2013/14 Main-Crop Rice Paddy Pledging Program.

As of March 2, 2014, the government has reportedly received approximately 11.6 million metric tons of rice paddy (7.7 million metric milled equivalent – Table 2) under the current MY2013/14 Main-Crop Rice Paddy Pledging Program. The BAAC has reportedly paid approximately 67 billion baht ($2.1 billion) in loans to 0.6 million rice farm households. The program is being financed through the revenue generated from the sales of government rice stocks.

Rice Export Update

Unofficial rice exports (excluding premium white and fragrant rice) for February 24 – March 2, 2014 totaled 83,611 metric tons, up 3,714 metric tons from the previous week and up 9,728 metric tons from the four- week moving average of 73,883 metric tons (Table 4). Rice exports from January 1 – March 2, 2014 totaled 548,011 metric tons, down 29 percent from 766,023 metric tons in the same period last year. According to the Thai Customs Department, the official rice exports in January 2014 totaled 696,558 metric tons, up 20 percent from the same period last year due to an increase in white and parboiled rice exports.

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