Rice Is Being Sold

[lovelomsak]

I understand that Thailand has inked a deal for the sale of 7.328 million tons of rice. The projected amount for 2012 was 6.5 million They just passed 2012 projected sales amount with 4 months to go. What do others think of this? I amnot sure what the monetary value was though.

The countries that bought the rice were Indonesia,China, Philippines and the Ivory coast. Indonesia is buying from everybody huh.

[GuestHouse]

There's a number of questions to be answered, top most of which is what price is this rice being sold at?

[GuestHouse]

There's a number of questions to be answered, top most of which is what price is this rice being sold at?

I stand corrected.

The top most question seems now to be 'has this deal actually taken place?'.

[lovelomsak]

There's a number of questions to be answered, top most of which is what price is this rice being sold at?

I stand corrected.

The top most question seems now to be 'has this deal actually taken place?'.

I can only agree with you. I like you wonder if the deals are actually signed or not. I may have been premature with this post.

[meom]

There's a number of questions to be answered, top most of which is what price is this rice being sold at?

I stand corrected.

The top most question seems now to be 'has this deal actually taken place?'.

I can only agree with you. I like you wonder if the deals are actually signed or not. I may have been premature with this post.

Below mentioned article clarifies things a bit.

It seems they exported 3.61 million ton until July and expect to sell another 3.05 million ton for the remainder of the year.

The rice industry doesn't do very well apparently.

http://www.thairiceexporters.or.th/Int%20news/News_2012/int_news_260712-1.html

[GuestHouse]

So it seems this is an expection, not a signed contract - and we are still not told what price they are selling at.

[meom]

^

The same site mentions various export prices for different grades.

I guess that’s what they wish to get but no idea if they actually sell at quoted prices.

Last week 750,000 ton went for auction out of which 229,661 ton got sold against a total of 3.97 billion baht. There’s no info regarding which grades got sold so the average price of 17,286 baht/ton could be good or bad considering they purchased at 15,000 – 20,000 / ton under the rice pledging scheme.

Overall it’s probably bad because the government bought more than they can ever hope to sell.

It might be good for the farmers but in the end the government has to account for the losses somewhere if they wish to keep their accounts balanced.

Between a rock and a hard place comes to mind.

[Chicog]

A response to one of the "deals":

MANILA - The Philippines has not signed any new rice supply deal with Thailand, but it has an existing agreement with Bangkok for a standby supply of its national staple, the state grains agency National Food Authority (NFA) said on Wednesday.

[lovelomsak]

A response to one of the "deals":

MANILA - The Philippines has not signed any new rice supply deal with Thailand, but it has an existing agreement with Bangkok for a standby supply of its national staple, the state grains agency National Food Authority (NFA) said on Wednesday.

Correct me if I am wrong but this Philippine agreement is a M.O.U. and expires next year. Probably best they take advantage of a deal in place then wait to see what might bite them in the future.

[GuestHouse]

I hope next year's budget includes the additional cost of all the extra rice that is being grown to take advantage of this handout (plus the cheap rice coming on over rhe boarder).

My own trips into the Thai countryside reveal to me that where last year corn/tapioca was being grown or firlds last year were left fallow, this year they have been planted with rice.