THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY
USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT
POLICY
Export prices for most grades of rice further declined 1-2 percent, except for fragrant rice prices which
continued to increase significantly. Traders are still awaiting the details of the new tender for the
remaining government rice stocks which is expected to be announced by the end of August.
Ponnarong Prasertsri, Agricultural Specialist
Russ Nicely, Agricultural Counselor
Weekly Rice Price Update
Rice Price - Weekly
Thailand
TH7114
8/29/2017
Post:
Market Tone
Export prices of white rice further declined 1-2 percent from the previous week due mainly to a lack of new enquiries from foreign buyers. They are reportedly awaiting the new tender for the
remaining 0.6 million metric tons of the government’s deteriorated rice stocks. The government is
expected to announce the details of this tender by the end of August 2017. The tender is likely to be issued in early September 2017. If the 0.6 million metric tons of these deteriorated rice stocks are sold, government rice stocks are expected to decline to 0.1 – 0.2 million metric tons of mostly feed-quality rice.
However, export prices of fragrant rice continue to increase significantly from the previous week due to tight seasonal domestic supplies. While fragrant rice supplies are becoming tighter toward the end of the MY2016/17 season, some exporters still have to fulfill outstanding shipments for fragrant rice contracts made the past few months with Middle Eastern and African countries. Some exporters do not have quotations for fragrant rice this week due to the current spike in domestic prices of fragrant rice.
Rice Export Update
Unofficial and preliminary rice exports (excluding premium white and fragrant rice) for August 14 - 20, 2017, totaled 213,460 metric tons, up 60,740 metric tons from the previous week, and up 49,476 metric tons from the four-week moving average of 163,984 metric tons (Table 2). Rice exports from January 1 – August 20, 2017, totaled 5,557,838 metric tons.
End of Report.
