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


18 June 2013

USDA GAIN: Thailand Weekly Rice Price - 17 June 2013USDA GAIN: Thailand Weekly Rice Price - 17 June 2013

TH3052 – Export prices declined 1-3 percent due to the weakening of the Thai baht. The MY2013/14 Rice Paddy Pledging Program will likely be scaled back as the program is facing a squeeze.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Table 1: Export Prices (FOB) for Various Grades of Thai Rice (USD/MT), Week Ending June 10, 2013

Exchange rate: 30.8 baht/U.S.$
Source: Average actual prices received from exporters

Export prices declined 1-3 percent due to the weakening of the Thai baht to 30.8 baht/US$, as compared to 30.3 baht/US$ in the previous week. The National Rice Policy Committee will consider scaling back the next MY2013/14 Rice Paddy Pledging Program this week due to the concern over the public debt level. The government has provided approximately 610 billion baht ($20 billion) in loans through the Bank for Agriculture and Agricultural Cooperatives (BAAC) to farmers under the rice paddy pledging program in MY2011/12 and MY2012/13. The program has received total pledges of 40 million metric tons of paddy (26 million metric tons milled equivalent), as of June 6, 2013. The government is reportedly holding the rice stocks of approximately 17-18 million metric tons milled rice, mostly white rice. The stocks consist of 2.3 million metric tons from MY2011/12 Main-Crop Rice Paddy Pledging Program, 7.2 million metric tons from MY2011/12 Off-Season Rice Paddy Pledging Program, and approximately 8 million metric tons from the current MY2012/13 Rice Paddy Pledging Program. The government will have to speed up the sales of its rice stocks to support the coming MY2013/14 Rice Paddy Pledging Program which will begin in October 2013.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for June 3-9, 2013 totaled 46,365 metric tons, up 1,700 metric tons from the previous week, and up 2,707 metric tons from the four- week moving average of 43,658 metric tons. Exports of white and parboiled rice from January 1 through June 9, 2013 totaled 1,580,785 metric tons, down 31.8 percent (2,317,589 metric tons) from the same period last year.

Total rice exports (including fragrant rice) from January 1 through April 30, 2013 amounted to 2,043,160 metric tons, down 9.3 percent (2,251,488 metric tons) from the same period last year.

June 2013

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