Thai rice exports in 2014 projected at 9 million tonnes

[webfact]

Thai rice exports in 2014 projected at 9 million tonnes



BANGKOK, June 30 - The Thai Rice Exporters Association has projected that Thailand will be able to export 9 million tonnes of rice this year, the highest level in three years, with earnings of US$4.75 billion.

The Association said the demand for Thai rice has increased due to competitive prices while overseas buyers have also expressed interest in Thai rice, especially white rice and parboiled rice.

The Republic of Benin, Nigeria and South Africa continue to buy Thai rice while the most popular ‘Mali’ (jasmine) fragrant rice is being exported to the United States, Hong Kong and Singapore on a regular basis, it said.

Despite rising demand for Thai rice overseas, local exporters prefer to keep limited stocks due to fierce competition in the market, while new rice harvested by Vietnam began entering the market with Thailand trying to reduce its stock to prevent losses, the rice traders' association said.

During the first five months this year, Thailand exported 3.82 million tonnes and earned about Bt63.1 billion, up 52.3 and 19 per cent in volume and value respectively year-on-year, said the association.

The major importers were Benin, China, Ivory Coast, Cameroon and the US.

It is estimated that Thailand can export 900,000 tonnes of rice in June as demand oversea for Thai rice continues to increase while the prices also tend to rise due to the global market mechanism, the association added. (MCOT onlne news)

-- TNA 2014-06-30

[garnotics]

Thai rice is very delicious. But Free rice is not good.

[rametindallas]

How much of this year's total export can be met with this year's harvest? What percent of the total export is farmer's new rice and what percent is the government's stockpile? Will the government undercut the farmer's current crop price to get rid of excess inventory? In too many cases I am left with more questions than answers when reading Thailand news articles. The same reporters who, as students, were not allowed to question teacher are now trained to not questioning any statements given by any authority. (Almost) No investigative journalism and just passing on press releases. Oh, well, it was only my curiosity being denied but one can see how corruption can thrive in an environment where no one questions authority.

[Ricardo]

With large ageing stocks in the government warehouses, needing to be cleared, exports (at relatively low/competitive loss-making prices) will of course now increase.

Hopefully any rice of dubious-quality will be held back, rather than risk further damage, to the reputation of Thai rice, by sending it overseas.

It will be years before the true level of demand/export, following the Big Boss's failed-attempt to corner-the-world-markets, can be judged.

What the heck, it was only taxpayers' money, after all !

[femind06]

Rice is very important but free rice is very unnecessarily ...

[garnotics]

I don't know why Thai rice is very famous?

[khanoonktk]

We should to support Thai agriculture , especially Thai rice because rice is the important exports for Thailand.

[fab4]

I don't know why Thai rice is very famous?

Jasmine Rice? Khao Hom Mali? Same same but famous.

[djjamie]

"Thailand will be able to export 9 million tonnes of rice this year" (As well as 2 tons of scaffolding)

Going by the discovery at the warehouse of Agritec Company in Pathum Thani where scaffolding was used to prop up the rice bags to deceptively mislead the relevant authorities of 9100 missing tons.

[rametindallas]

I don't know why Thai rice is very famous?

Only the Khao hom mali strain is famous. The Thai word 'hom' means 'good smell'. It is also known as Jasmine rice. If you try it, you will know why it is famous. It is long-grain, more flavorful in a mild sort of way and definitely has a fragrance that is wonderfully distinctive. I pay a 40% premium in Dallas for new crop Jasmine rice and it is worth it.

[rametindallas]

"Thailand will be able to export 9 million tonnes of rice this year" (As well as 2 tons of scaffolding)

Going by the discovery at the warehouse of Agritec Company in Pathum Thani where scaffolding was used to prop up the rice bags to deceptively mislead the relevant authorities of 9100 missing tons.

Too 'kee neow' (politely translated as 'tight-fisted') to put a layer across the top to complete the fraud and got caught for it. Greed unbound.

[Thai at Heart]

If you considered the glycemic index of hom Mali, you would never eat it.

[Thai at Heart]

I don't know why Thai rice is very famous?

Only the Khao hom mali strain is famous. The Thai word 'hom' means 'good smell'. It is also known as Jasmine rice. If you try it, you will know why it is famous. It is long-grain, more flavorful in a mild sort of way and definitely has a fragrance that is wonderfully distinctive. I pay a 40% premium in Dallas for new crop Jasmine rice and it is worth it.

True hom Mali makes up about 3mn tonnes. That's it. All the rest is generic white rice.

[rametindallas]

If you considered the glycemic index of hom Mali, you would never eat it.

Is it twice as bad or what are the numbers? I'm curious as I thought that all white rice was basically bad for one's health compared to brown rice. I eat Jasmine rice at least 6 times a week plus rice noodles and generic jok moo, and my blood sugar is well within the acceptable range. I do know that rice doesn't produce the mucus that wheat does so I hardly touch bread.

[Thai at Heart]

If you considered the glycemic index of hom Mali, you would never eat it.

Is it twice as bad or what are the numbers? I'm curious as I thought that all white rice was basically bad for one's health compared to brown rice. I eat Jasmine rice at least 6 times a week plus rice noodles and generic jok moo, and my blood sugar is well within the acceptable range. I do know that rice doesn't produce the mucus that wheat does so I hardly touch bread.

It's about twice as bad as basmati.

http://www.thekitchn.com/whats-the-difference-between-j-1-93814

We mix it about 50/50, with brown. It is essentially pure sugar.

[rametindallas]

If you considered the glycemic index of hom Mali, you would never eat it.

Is it twice as bad or what are the numbers? I'm curious as I thought that all white rice was basically bad for one's health compared to brown rice. I eat Jasmine rice at least 6 times a week plus rice noodles and generic jok moo, and my blood sugar is well within the acceptable range. I do know that rice doesn't produce the mucus that wheat does so I hardly touch bread.

It's about twice as bad as basmati.

http://www.thekitchn.com/whats-the-difference-between-j-1-93814

We mix it about 50/50, with brown. It is essentially pure sugar.

Thanks for the link and the info. I can't stand the 'chew' of brown rice so maybe I'll just cut back on the Jasmine (a little).

[Robby nz]

If what I understand is correct that is about in line with or a little above the normal annual export production in previous years.

However there has in the last 3 years been a reported increase in production to take advantage of the pledging scheme.

Even though some of the rice sold may come from stockpiles it would mean there was no actual decrease in rice held as some of that sold from said stock would be replaced by the less popular or even higher priced types.

Given the list of countries that are prospective buyers it could well be that some of their governments or buyers are after the cheapest they can get without to much concern for quality.

I note that in the OP they give the reason for the high sales as competitive (low) prices. This will probably mean that Thailand is undercutting its competitors in order to sell thereby getting less return for the higher volume that it sells.

Something a bit screwy with the numbers there as well.

They say that for the 9 million tons they expect to get US4.75 billion which at 32 baht to the dollar comes to 147 billion baht.

Then farther down they say in the first 5 months they have already sold 3.82 million tons and received 163.1 billion baht.

That would mean that in less than half the year they have sold less than half the total projected sales for more that the total projected income.

[lostsoul49]

Is there even 9 million tonnes in the stockpiles after all the theft is revealed?

On a positive note though... If the stockpiles are a lot less than thought due to internal crime, then that would probably help the industry with regards to supply and demand and how it has affected the global rice prices.

I know it is not the best scenario meaning the country will have lost a shitload of cash to the corrupt, but if anyone actually thinks any of that 700 billion is ever coming back into the coffers even after all the corruption is exposed,then they are living in a totally different dimension to me.

The only way any of that money will come back (and it won't even be in this country by now) is if ALL the corrupt perpetrators are handed down mandatory life sentences with no possibility of a pardon, only to be commuted after the stolen money is returned... I am sure they will be more than happy to give it up after that.

Edited June 30, 2014 by lostsoul49

[Thai at Heart]

Is there even 9 million tonnes in the stockpiles after all the theft is revealed?

On a positive note though... If the stockpiles are a lot less than thought due to internal crime, then that would probably help the industry with regards to supply and demand and how it has affected the global rice prices.

I know it is not the best scenario meaning the country will have lost a shitload of cash to the corrupt, but if anyone actually thinks any of that 700 billion is ever coming back into the coffers even after all the corruption is exposed,then they are living in a totally different dimension to me.

The only way any of that money will come back (and it won't even be in this country by now) is if ALL the corrupt perpetrators are handed down mandatory life sentences with no possibility of a pardon, only to be commuted after the stolen money is returned... I am sure they will be more than happy to give it up after that.

If they locked up everyone who would have known about the fraud, they would need to put thousands of people away. A fraud like this, on a nationwide basis with so many different sites involved needs the help and complicit knowledge of everyone from the gateman to the customs department. And as yet, they can't find one proper witness............hmmmmmmmmmmmmmmmmmmmmm

[ezzra]

Ok, now tell us how many tonnes going to be stolen and misappropriated?

[Utley]

"with earnings of US$4.75 billion"

Earnings or gross receipts? "Earnings" is generally defined as what you have left after you paid all your bills - i.e. net profit.

[dcutman]

I wonder if anybody will figure out how much rice there is supposed to be (in stock) warehoused? How much has been sold and shipped out up to this date?

Up to this point is all anybody really knows, there has been about 800 billion spent in the rice pledging scam.

[Thai at Heart]

I wonder if anybody will figure out how much rice there is supposed to be (in stock) warehoused? How much has been sold and shipped out up to this date?

Up to this point is all anybody really knows, there has been about 800 billion spent in the rice pledging scam.

The only number they might know is how much they actually milled. Because someone will have sent a bill for milled volume.

[dcutman]

I wonder if anybody will figure out how much rice there is supposed to be (in stock) warehoused? How much has been sold and shipped out up to this date?

Up to this point is all anybody really knows, there has been about 800 billion spent in the rice pledging scam.

The only number they might know is how much they actually milled. Because someone will have sent a bill for milled volume.

That might be the closesest thing to be real. Of course with all the deception in this scam, that number could be off by millions of tonns.

I doubt any body will ever come up with a number that everybody believes. Its just gonna go down as a huge loss to the taxpayer and many people (scumbages) will be much more wealthy because of it, unfortunately.