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


23 June 2014

USDA GAIN: Thailand Weekly Rice Price - 17 June 2014USDA GAIN: Thailand Weekly Rice Price - 17 June 2014

TH4051 – The military government announced that it will no longer continue the rice pledging and income insurance programs. All overdue payments under the pledging program are expected to be repaid by the end of this week.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Most exporters have no quotations this week due to concerns about the military government’s decision to halt the movement of government rice stocks from storage warehouses until the inspection of rice quantity and quality is completed. Exporters who bought government rice stocks reportedly have to delay its pending shipments to foreign customers, except for the outstanding rice shipments under the government-to-government contract with China. A partial shipment totaling 10,000 metric tons is expected to be delivered to China by the end of this month. Meanwhile, small-scale exporters are offering to sell their rice supplies at 2 to 3 percent above market prices.

As of June 15, 2014, the government reportedly received approximately 11.7 million metric tons of main-crop rice paddy (7.7 million metric milled equivalent – Table 2) under the MY2013/14 Main-Crop Rice Paddy Pledging Program that costs around 193 billion baht ($6 billion). The BAAC has reportedly paid approximately 181 billion baht ($5.7 billion) in loans to 1.5 million rice farmers for 11 million metric tons of pledges (7.3 million metric tons milled equivalent). The remainder is expected to be paid by June 20, 2014. The military government announced that it will no longer continue the rice pledging and income insurance programs.

Rice Export Update

Preliminary unofficial rice exports (excluding premium white and fragrant rice) for June 9-15, 2014 totaled 99,992 metric tons, down 38,861 metric tons from the previous week and down 32,610 metric tons from the four- week moving average of 132,602 metric tons (Table 3). Rice exports from January 1 – June 15, 2014 totaled 2,018,728 metric tons, up 25 percent from the same period last year.

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