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


11 December 2014

USDA GAIN: Thailand Weekly Rice Price Update December 2014USDA GAIN: Thailand Weekly Rice Price Update December 2014


USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Export prices increased 1 to 3 percent from the previous week, particularly for fragrant rice. On November 25, 2014, the Government approved the implementation of a new on-farm pleading program which is known as “Farmer Loans to Delay the Sales of Rice Paddy for MY2014/15 MainCrop Fragrant and Glutinous Rice Paddy) in the northern and northeastern regions (for more detail of the program please see TH4104, Grain and Feed Update – October 2014). The Government expects that around 2 million metric tons of rice paddy by January 2015 will be temporarily taken off the market due to attractive intervention prices which are currently 23 percent above market prices for fragrant rice paddy, and 41 percent for glutinous rice paddy. While the intervention prices are not as high as in the previous pledging programs, they are still high enough for farmers to forfeit their rice paddy. Traders expect the government will auction this rice paddy after February 2015 when the program finishes.

Rice Export Update

Unofficial preliminary rice exports (excluding premium white and fragrant rice) for November 24- 30, 2014 totaled 113,947 metric tons, up 7,386 metric tons from the previous week and up 11,176 metric tons from the four-week moving average of 102,769 metric tons (Table 2). Rice exports from January 1 – November 30, 2014, totaled 4,879,065 metric tons, up 64 percent from the same period last year.

 

 

 

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