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


28 September 2012

USDA GAIN: Thailand Weekly Rice Price Update - 27 September 2012USDA GAIN: Thailand Weekly Rice Price Update - 27 September 2012

TH 2094 – Domestic and export prices declined about 1.0 percent from the previous week due to the release of government rice stocks. The government will conduct a new tender utilizing stock from the MY2011/12 main-crop Paddy Pledging. The tender is expected to be announced on September 19, 2012.
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

Domestic and export prices declined about 1.0 percent from the previous week due to the release of government rice stocks. The Ministry of Commerce’s Department of Foreign Trade will conduct a new tender on September 19, 2012 for 586,193 metric tons utilizing stocks from the MY2011/12 main-crop Paddy Pledging Program. The tender will include 431,839 tons of fragrant rice carried over from the last tender conducted on August 28, 2012 (Table 2). 106,452 metric tons of broken fragrant rice and 47,903 metric tons of glutinous rice will also be part of the tender.

The Thai Government is currently holding total intervention stocks of around 12-13 million metric tons; of which 1-2 million metric tons are old-crop rice. As of September 6, 2012, the MY2011/12 Paddy Pledging Program has pledged 19.2 million metric tons of paddy (12.7 million metric tons milled equivalent); of which 6.8 million tons are main-crop paddy (4.5 million metric tons milled equivalent) (Table 3), and 12.4 million metric tons are off-season crop paddy (8.2 million metric tons milled equivalent) (Table 4). Meanwhile, the Thai Government sought Cabinet approval (September 18, 2012) Bangkokfor funding of the MY2012/13 Paddy Pledging Program. The program is expected to cost 405 billion baht ($13 billion) and the government has pledged a target range of 26.0 million metric tons of paddy (17 million metric tons milled equivalent). This accounts for approximately 80.0 percent of total rice production. The program will be effective from October 1, 2012 to September 30, 2013. The intervention prices remain unchanged at 13,800 - 15,000 baht/tons ($444 – $482/MT) for white rice paddy, and 18,000 – 20,000 baht/ton ($579 – $643/MT) for fragrant rice paddy. No limit restrictions were imposed on the pledged amount. Presently, farm-gate prices are around 11,500 - 12,000 baht/ton ($370 - $386/MT) for white rice paddy, and 14,800 – 16,000 baht/ton ($476 – $514/MT) for fragrant rice paddy.

Rice Export Update

Unofficial rice exports (excluding fragrant rice) for September 10-16, 2012 totaled 76,072 tons, up 20,576 tons from the previous week, and up 9,916 tons from the four-week moving average of 66,156 tons. Exports of white rice and parboiled rice from January 1- September 16, 2012 totaled 3,432,084 tons, down 50.3 percent (6,899,985 tons) from last year.

According to the Department of Foreign trade, Ministry of Commerce, total rice exports (including fragrant rice) from January 1 – September 13, 2012 amounted to 4,644,292 tons, down 45.6 percent (8,540,530 tons) from last year.

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