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


03 June 2013

USDA GAIN: Thailand Weekly Rice Price - 3 June 2013USDA GAIN: Thailand Weekly Rice Price - 3 June 2013

TH3049 – Export prices were unchanged from the previous week due to quiet trading. The Ministry of Commerce has reportedly paid only 25-30 percent of the loans made by the Bank for Agriculture and Agricultural Cooperatives due to the delay in government rice stock sales.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices were virtually unchanged from the previous week due to quiet trading. However, the slight weakening of the Thai baht (29.8 baht/US$, compared to 29.7 baht/US$ in the previous week) has prompted some exporters to cut their quotations by $5 per metric ton. The Bank for Agriculture and Agricultural Cooperatives is anxious about the delay in the sale of government rice stocks as it has reportedly been repaid only 25 to 30 percent of the approximately 53 billion baht ($1.8 billion) it loaned to the Ministry of Commerce since January 2013. Exporters expect the government will have to speed up the sale of its rice stocks for the remainder of the year if it wants to continue the MY2013/14 Main-Crop Rice Paddy Program.

Table 1: Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending May 27, 2013

Exchange rate: 29.8 baht/U.S.$
Source: Average actual prices received from exporters

The MY 2012/13 Main-Crop Rice Paddy Pledging Program (October 1, 2012 – March 31, 2013) received pledges of approximately 14.2 million metric tons (9.4 million metric tons milled equivalent). Meanwhile, the current MY2012/13 Off-Season Rice Paddy Pledging Program, which began on April 1, Bangkok 2013 and will run until September 15, 2013, has already received pledges of approximately 3 million metric tons of paddy (2 million metric tons milled equivalent as of May 10, 2013), most of it in the form of white rice paddy. Presently, the government is holding rice stocks of approximately 17 million metric tons milled rice, of which around 8 million tons (mostly white rice) are carry-over stocks from the previous pledging program and the remainder is rice stocks from this year’s pledges.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for May 20-26, 2013 totaled 31,788 metric tons, down 20,028 metric tons from the previous week, and down 5,667 metric tons from the four- week moving average of 37,455 metric tons. Exports of white and parboiled rice from January 1 through May 26, 2013 totaled 1,489,755 metric tons, down 31.3 percent (2,168,278 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 through April 30, 2013 amounted to approximately 2.01 million metric tons, down 10.3 percent (2.24 million metric tons) from the same period last year.

June 2013

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