USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed
16 October 2012
USDA 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).
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.
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