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


03 September 2014

USDA GAIN: Thailand Weekly Rice Price - 28 August 2014USDA GAIN: Thailand Weekly Rice Price - 28 August 2014

TH4072 – Export prices declined slightly as new off-season rice supplies entered the market. The government plans to issue a new public tender for rice stocks in early September.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Post:

Bangkok

Export prices declined slightly from the previous week as new supplies of MY2013/14 off-season rice crop (mostly white rice) are coming onto the market. These new supplies account for approximately 10 percent of total off-season rice production. Total off-season rice production normally accounts for about 30 percent of Thailand’s rice crop. Most of the off-season crop harvest will be completed by the end of September. Some large rice exporters still have no quotations, particularly for large-volume sale contracts, as they are awaiting the sales of government rice stocks. Meanwhile, the military government has not finalized the detail of the new public tender which is likely to be issued in early September. Also, the Thai and Chinese governments are reportedly still negotiating the prices for the next shipment of the government-to-government contract of 100,000 million metric tons of 5 percent grade white rice. If details are agreed, the shipment will likely begin in September 2014. The export prices of the previous shipment which was completed in the second quarter of 2014 were reportedly settled at $410/MT.

Rice Export Update

Unofficial rice exports (excluding premium white and fragrant rice) for August 18-24, 2014 totaled 125,918 metric tons, up 19,553 metric tons from the previous week and up 7,284 metric tons from the four-week moving average of 118,633 metric tons (Table 2). Rice exports from January 1 – August 24, 2014, totaled 3,231,032 metric tons, up 54 percent from the same period last year.

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