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


01 July 2013

USDA GAIN: Thailand Weekly Rice Price - 25 June 2013USDA GAIN: Thailand Weekly Rice Price - 25 June 2013

TH3054 – Export prices declined 1 to 3 percent due to the weakening of the Thai baht. The Thai Government took the unprecedented steps to cut rice intervention prices and limit the amount of rice pledges per farmer household due to limited financial resources and concerns over public debt.
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 24, 2013

Export prices declined 1 to 3 percent due to the weakening of the Thai baht to 31baht/US$, as compared to 30.5 baht/US$ in the previous week. The Thai Government took the unprecedented step to cut the rice intervention price for the current MY2012/13 Off-Season Rice Paddy Pledging Program because of limited financial resources and concerns over public debt. On June 19, 2013, the government slashed the white rice paddy intervention price by 20 percent to 11,040 – 12,000 baht per metric ton ($356-387/MT) from 13,800 – 15,000 baht per metric ton ($445 - 484/MT). The new intervention price will take effect on June 30, 2013 and remain until the end of the program on September 15, 2013. In addition, the Thai Cabinet approved to limit the amount of rice pledges under the program to 500,000 baht ($16,130 or approximately 40 to 45 metric tons of paddy) per farmer household as compared to the previous unlimited amounts. Meanwhile, the government still has not finalized the MY2013/14 Main-Crop Rice Paddy Pledging Program.

Rice Export Update

Unofficial rice exports (excluding premium white rice and fragrant rice) for June 17-23, 2013 totaled 43,095 metric tons, down 1,701 metric tons from the previous week and down 1,635 metric tons from the four- week moving average of 44,730 metric tons. Exports of white and parboiled rice from January 1 through June 23, 2013 totaled 1,668,676 metric tons, down 33.0 percent (2,492,262 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.

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