Rice values and exports up

 

 

BANGKOK, 25th October 2018 (NNT) – The value of Jasmine rice has risen significantly to 18,000 baht per ton, and rice exports overall have increased with 9 million tons already sold this year. 

Director-General of the Department of Foreign Trade (DFT) Adul Chotinisakorn has reported that from the start of the year to October 19 Thailand exported 8.9 million tons of rice, worth a combined 4.6 billion USD and 2.71 percent more on-year.

 

Major buyers have been Benin, Indonesia, the Philippines, China and South Africa with orders still pending from the Philippines, where Thailand won an auction to sell 18,000 tons of rice and could potentially sell up to 750,000 tons. Japan has also struck a deal to purchase over 87,000 tons of rice. 

With orders still incoming from many countries, it is expected that Thailand will hit its rice export target of 11 million tons this year.

 

-- nnt 2018-10-25

Seems to me that these high $ figures are great when the baht is silly strong, but when it eventually crashes wh willb be left holding the can ? 

4 hours ago, webfact said:

from the start of the year to October 19 Thailand exported 8.9 million tons of rice, worth a combined 4.6 billion USD

Thailand was No. 1 rice exporter for the first seven months of 2017.

https://www.thaitradeusa.com/home/?p=23273

But India was No. 1 rice exporter for 2017 with a total value of USD 5.5 billion followed by Thailand at USD 5.2 billion.

http://www.worldstopexports.com/rice-exports-country/

A question is whether Thailand will remain No. 2 with the idea to hold down world supply that should encourage higher rice prices.

But for 2017 the fastest-growing rice exporters since 2013 were: China (up 43.2%), Cambodia (up 32.5%), Netherlands (up 21.8%) and Paraguay (up 17.4%).

There is no rice "OPEC" to control world supply. Even if Thailand doesn't surpass its 2017 rice exports (in terms of value), competing rice export countries may further increase the world supply and pressure prices even lower.

And yet the price paid, per kilo, towards the hardworking rice farmer remains stagnant. 

 

Any surface celebrations should be relegated as falsehoods. 

 

Farmers need to take back their lives by unifying as working collectives.

They'll call the shots - beneficial or not - as to the marketability and manageability of their revered product. 

Rice is up around the world. Japan is buying, Manila is happy so are Bangladesh and Burma.

 

So do you think they will sell some of M/s T's stored rice?

4 minutes ago, Chris Lawrence said:

Rice is up around the world.

Overview for 2018/2019:

• Global consumption is forecast marginally higher.
• Global trade is nearly unchanged with offsetting changes.

Rice prices:

• Thai quotes continued to climb to $409/ton, supported by the currency and improved prospects to export large volumes to the Philippines. Demand from Southeast Asia was also a key factor in supporting Vietnamese quotes, now at $398/ton. Pakistani quotes are relatively steady at $385/ton, whereas Indian quotes have become even more competitive at $375/ton on slow buying interest.

https://apps.fas.usda.gov/psdonline/circulars/grain-rice.pdf

Thailand needs to produce rice cheaper to be competitive and have rice farmers be economically sustainable.

29 minutes ago, Srikcir said:

Overview for 2018/2019:

• Global consumption is forecast marginally higher.
• Global trade is nearly unchanged with offsetting changes.

Rice prices:

• Thai quotes continued to climb to $409/ton, supported by the currency and improved prospects to export large volumes to the Philippines. Demand from Southeast Asia was also a key factor in supporting Vietnamese quotes, now at $398/ton. Pakistani quotes are relatively steady at $385/ton, whereas Indian quotes have become even more competitive at $375/ton on slow buying interest.

https://apps.fas.usda.gov/psdonline/circulars/grain-rice.pdf

Thailand needs to produce rice cheaper to be competitive and have rice farmers be economically sustainable.

 

 

Unfortunately, Thailand, who was king of the hill for ages, shot itself in the foot during the Yingluck debacle and really never recovered - as to competitive quality and volume. Slow struggle to regain the export/surplus market......as the likes of Cambodia and Vietnam have made extensive strides in quality strains and progressive aggie techniques.