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


16 July 2012

USDA GAIN: Thailand Weekly Rice Price - 16 July 2012USDA GAIN: Thailand Weekly Rice Price - 16 July 2012

TH2066 Domestic and export prices continued to decline 1.0 percent due to a lack of new enquiries. The Government is considering overhauling the guidelines for the release 1.0 million tons of rice in the second half of the year.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices continued to decline around 1.0 percent from the previous week due to a lack of new enquiries. Foreign buyers are placing new orders for Vietnamese and Indian rice which is $185-195/MT cheaper. In addition, the Government is considering overhauling the guidelines for the release of 1.0 million tons of rice in the second half of the year. In the first half of the year, the Government reported that it released around 0.2 million tons out of a target of 0.6 million tons of rice.

Presently, the Government has accumulated rice stocks of around 12.8 million tons milled equivalent, of which 2.0 million tons are old-crop intervention stocks, and 10.8 million tons are MY2011/12 crop. The MY2011/12 main-crop Paddy Pledging Program took delivery of a total of 6.8 million tons of paddy (4.5 million tons milled equivalent (Table 2)). The current off-season Paddy Pleading Program has absorbed 9.5 million tons of paddy (6.3 million tons milled equivalent) since it began on March 1 up to July 8, 2012 (Table 3). The total weekly pledging continued to decline to 187,574 tons of paddy, Bangkokdown 15.3 percent from the previous week. The Government expects that the program will likely finish at 10.0 million tons of paddy (6.6 million tons milled equivalent) as most of the off-season crop has been harvested.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for July 2 - 8, 2012 totaled 82,749 tons, down 17,557 tons from the previous week, and down 7,363 tons from the four-week moving average of 90,112 tons. Exports of white rice and parboiled rice during January1 – July 8, 2012 totaled 2,679,045 tons, down 50.3 percent from 5,385,388 tons in the previous year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) during January 1 – July 4, 2012 amounted to 3,517,274 tons, down 45.4 percent from 6,447,569 tons in the previous year.

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