Rice export volumes soar in first 8 months

[Lite Beer]

Rice export volumes soar in first 8 months
Petchanet Pratruangkrai
The Nation

BANGKOK: -- Rice exports in the first eight months of the year grew significantly, by almost 60 per cent year on year, to 6.59 million tonnes, thanks to strong demand in many markets and a high supply from government stocks, according to the Thai Rice Exporters Association.

The association reported that the value of rice exports also increased by 22.4 per cent year on year to Bt105.83 billion.

Charoen Laothamatas, president of the association, said demand had increased considerably since July this year, particularly for white rice in some African countries.

In the first eight months of last year, Thailand exported only 4.14 million tonnes of rice worth Bt86.47 billion.

In the January-August period this year, Benin imported the most at 852,502 tonnes, followed by Nigeria with 474,561 tonnes, China with 432,220, Ivory Coast with 383,663 and South Africa with 335,529.

August saw the highest monthly volume of rice exports so far this year at 925,023 tonnes, up by 3.5 per cent year on year. Much of that was parboiled rice, at 405,716 tonnes, up by 17 per cent from July.

Parboiled rice went largely to Nigeria, followed by Benin, South Africa and Yemen.

Export of hom mali (jasmine rice) in August amounted to 152,865 tonnes, an increase of 15 per cent month on month. The United States was the biggest importer of hom mali rice at 27,531 tonnes, followed by Hong Kong and Singapore.

Charoen said the price of exported white rice in September had increased from August because of high domestic demand in the out-of-harvest season.

As of October 1, the price of Thai 5 per cent white rice was quoted at US$433 a tonne, while the Vietnam price was $440-$450, India's was $420-$430, and Pakistan's $405-$415 a tonne.

The association estimates that shipments in September were about 900,000 tonnes, because of continued high demand for white and parboiled rice. Thailand also has government-to-government rice-sale contracts with many countries such as to China, Indonesia and the Philippines.

Source: http://www.nationmultimedia.com/business/Rice-export-volumes-soar-in-first-8-months-30244728.html

-- The Nation 2014-10-04

[aTomsLife]

Good for Thailand, but of course it's a 60% gain following three years of attempting to sell at a price almost double market value. Now that Thailand's price has come back down to earth, sales have increased.... I mean, is this really news?

[apetley]

So the value of the rice sold has decreased significantly if they sold an extra 60% for an increase of only 22% in bht terms.

So much for the master plan to cash in by withholding stocks.

[worgeordie]

Wonder how much is been lost on every tonne exported,

the high price paid,plus all the storage costs,but the

public will never find out.

regards Worgeordie

[marinediscoking]

How could they sell that amount of rice when it was supposedly missing?

[rickirs]

"a high supply from government stocks"

Of course the Junta didn't create any rice stockpiles so "government stocks" comes from the Yingluck government purchased rice. And with now better prices and a big stickpile of MARKETABLE rice, the boon in sales revenues will help save the Junta from its own debt-financed programs. How about that for a turn of events?

[Nuddy]

Yep have to wonder where the Govt are getting all the dosh to pay for all of the new approved budgets.

Edited October 4, 2014 by Nuddy

[naboo]

Down from nearly 21,000B/tonne to 16,000B/tonne. And when you factor in the fall in value of the Baht of 10% it looks even worse, selling at 14,500B/tonne at the value of Baht during the same period last year.

[The Deerhunter]

How could they sell that amount of rice when it was supposedly missing?

What a stupid trolling pointless comment. You deserve banning for such behavior. They sold about 2.4 million tons (by my rough addition) January to August 2014 out of over 20 million tons in storage. No-one said it was all missing. BUT: In April Yingluck did say it was all there and all good condition. That is relevant. Your stupid trouble-making comment is not.

Edited October 4, 2014 by The Deerhunter

[Mudcrab]

How could they sell that amount of rice when it was supposedly missing?

What a stupid trolling pointless comment. You deserve banning for such behavior. They sold about 2.4 million tons (by my rough addition) January to August 2014 out of over 20 million tons in storage. No-one said it was all missing. BUT: In April Yingluck did say it was all there and all good condition. That is relevant. Your stupid trouble-making comment is not.

keep hunting deers old mite

[Pii Kate]

Wonder how much is been lost on every tonne exported,

the high price paid,plus all the storage costs,but the

public will never find out.

regards Worgeordie

Really news? Only if you combine it with the increase of egg production. Abundance in Thailand!!!!!!!!!!!! Wahoo!!!!!!!!!