July Thai rice exports hit three year high

[webfact]

July Thai rice exports hit three year high
By Digital Content



BANGKOK, Sept 1 -- The Thai Rice Exporters Association reported that Thailand exported 5.62 million tons of rice in the first seven months of this year, with exports peaking at 941,000 tonnes in July, making a new three year high.

The association stated that the value of rice exported in the first seven months this year was Bt90.85 billion.

The export volume rose by 55.5 per cent and its value increased by 20.6 per cent compared to the same period of last year when exports stood at 3.61 million tons with an estimated value of Bt75.35 billion.

The first top five buyers of Thai rice were Benin buying 689,329 tons (rising by 55.7 per cent year-on-year), China 338,170 tons (227.1 per cent), Ivory Coast 325,558 tons (68.2 per cent) , Nigeria 321,955 tons (466.5 per cent) and Cameroon 281,905 tons (190.2 per cent).

The volume of Thai rice exports increased continuously from June.

The 941,691 tonne export volume in July is the highest monthly amount since the 1,012,703 tons registered in August 2011.

In July the exports of white rice amounted to 448,652 tonnes, 10 per cent more compared with June.

The lion’s share of exported white rice was destined for Ivory Coast (58,009 tons), followed by 42,074 tons for Malaysia, and 36,959 tons for China.

The association predicted rice exports should reach about 900,000 tons in August as the price of Thai rice is close to that of competitors. Thailand has clear policies on releasing its rice stocks and is actively trying to sell rice to China, Indonesia and Malaysia, and other countries which continuously demand rice and are clearly informed of situations in Thailand.

Established markets in Africa and the Middle East are ordering more Thai rice, including white rice and parboiled rice.

In addition the Thai government is contracted to deliver more rice to China. Details of the delivery have been finalized and transport is expected in the near future. (MCOT online news)


-- TNA 2014-09-01

[Costas2008]

Very good news.

I hope this carries on.

Thailand needs to recover from the economic gloom.

[dru2]

How refreshing to see a list of purchasing countries together with quantities. So very different to the lies and obfuscations of the former Yingluck administration.

[Thai at Heart]

But alas. No mention of crop years and how much of this is from the govt stockpile.

[webfact]

Thai rice exports reach 941,000 tonnes, the highest in 3 years

BANGKOK, 1 September 2014 (NNT) – Thai rice regained its number one position as a rice exporter in July after it had exported 941,000 tonnes of paddy worth of 14.4 billion baht.

Charoen Laothamatas, the president of the Thai Rice Exporters Association, has revealed that the July export figure was the highest level achieved since August 2011. Meanwhile, the price of 5% Thai white rice has plummeted to 441 dollars a ton which is a lower price than Vietnam’s rice quoted at between 445 and 455 dollars a ton.

The August export figure is predicted to come in at 900,000 tonnes since prices of Thai rice have decreased to a highly competitive rate, while the Thai government is negotiating with major export markets including China and Indonesia to release more of its stock. This year’s rice exports are thus anticipated be in line with the target of 10 million tonnes.


-- NNT 2014-09-01

[Robby nz]

Not really surprising as most of the crop for the last 3 years has been stowed away in the warehouses with very little up for export.

Good to see the Ivory Coast back buying again after the debacle of them being sold a shipment where they had to dump about 25% because of poor quality.

I suspect most of this sale is from 2013 crop that was bought under the scheme although there may be some older good condition rice and some from the first 2014 harvest in there as well.

The first of the main 2014 crop has just started being harvested around where I live with the first paddy in the first week of last month, so none or very little of that crop is likely to be available as yet.

Interesting also to see "China 338,170 tons (227.1 per cent)," China's purchase being up 227.1% from last year sort of proves the lie of the millions of tons that China was supposed to be buying last year.

[dcutman]

Its good news this government is into exporting rice instead of storing it and letting it rot as the previous govt did. However what has happened in the last three years under the PTP is showing very bright. Thailand has lost its reputation as predicted prior to and throughout this disastrous scheme shown by the price it is getting on the export market.

the price of 5% Thai white rice has plummeted to 441 dollars a ton which is a lower price than Vietnam’s rice quoted at between 445 and 455 dollars a ton.

Hopefully this is not long lasting and Thailand can regain its reputation. Only time will tell.

Maybe, just maybe this govt as well as future govts, as well as farmers, see the need for research and development in farming and Thai farmers a willing to accept the fact it is the 21st century and they need to step into it, to be competitive with the rest of the world.

[moe666]

Nice not to have the PTP drama about the rice scam

[rubl]

Well, with the caretaking Yingluck Administration suddenly wanting to borrow 130 billion in December 2013 and with what was actually borrowed here and there and anywhere, this 90 billion seems meagre.

Also the 75 billion revenue in the first eight months in 2013 only seems to emphasize growing losses, a fact somewhat ignored by Ms. Yingluck.

Anyway we're still far from a final accounting on this with still 17 million tonnes or so left in stock. That's assuming some of the stock was sold, or is this all new rice which hasn't been in stock?

[manarak]

Well, with the caretaking Yingluck Administration suddenly wanting to borrow 130 billion in December 2013 and with what was actually borrowed here and there and anywhere, this 90 billion seems meagre.

Also the 75 billion revenue in the first eight months in 2013 only seems to emphasize growing losses, a fact somewhat ignored by Ms. Yingluck.

Anyway we're still far from a final accounting on this with still 17 million tonnes or so left in stock. That's assuming some of the stock was sold, or is this all new rice which hasn't been in stock?

Problem is, a lot of rice in the government stockpile is of bad quality and not adequate for export.

But the exports picking up are certainly excellent news for the government.

[SoFarAndNear]

Wow...now finally the rice which has been piled up for 2 years is on the market and oh wonder... most successful month in 3 years.

[FangFerang]

If a huge percentage (well over half) of all stockpiled rice tested is substandard...what are they exporting?

[rickirs]

While rice market prices are recovering, they haven't gone back to market prices realized before the anti-government protests in 2013. And prices at that time were insufficient for farmers to recoup their investment and earn a profit, hence the government subsidies that lead ultimately to huge government losses.

New rice stocks released now are likely going to suffer unprofitability. Thailand would do well to delay or dribble out sale of new rice stocks, and cut back near-future rice production until prices reach a level of sustainable profitability. The alternative is that once again the government will be imposed upon to continue providing rice farmers with reimbursement through borrowing.

(chart reference: www.indexmundi.com )

[Thai at Heart]

If a huge percentage (well over half) of all stockpiled rice tested is substandard...what are they exporting?

Substandard is very subjective. If they offered you slightly old hom Mali grade A for 450 USD per tonne would u buy it.

[shirtless]

Every long journey starts with the first step.Long way to go but Thailand with persistence may get their in the end.

[rickirs]

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If a huge percentage (well over half) of all stockpiled rice tested is substandard...what are they exporting?

Didn't the NCPO audit find only that 7.05% of rice stockpiled in 1,787 granaries located throughout the 14 provinces had "irregular rice?" Not quite the "huge percentage" you state.

[billd766]

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If a huge percentage (well over half) of all stockpiled rice tested is substandard...what are they exporting?

Didn't the NCPO audit find only that 7.05% of rice stockpiled in 1,787 granaries located throughout the 14 provinces had "irregular rice?" Not quite the "huge percentage" you state.

It depends on your point of view.

If you had paid the market price for good rice and were palmed off with old sub standard rice would you be happy?

If you would be happy please tell the rice sellers and they will be only too glad to dump a load of mouldy old rice on to you for the market price.

[chotthee]

All things (especially economic) start getting better once our elected (by >97% of the votes) our Great Supreme General Prime Minister Prayuth step into power.

All real Thailand people are also happy and live in harmony.

No more social divides.

Inflation has gone down too.

Poor Thai people will be a thing of the past soon; very soon.