Export prices of Thai rice the lowest in ten years

[webfact]

Export prices of Thai rice the lowest in ten years



BANGKOK: -- Global economic slowdown combined with huge rice stocks and substantial oil price drop which has sapped the purchasing power of Thailand’s main rice buyers have driven the export price of Thai rice to the lowest in ten years.

Mr Charoen Laothammathat, president of Thai Rice Exporters Association, disclosed on Thursday that 5% white rice now fetches between US$ 350-390 FOB per tonne which are the lowest in ten years.

The FOB export prices of Hom Mali fragrant rice and parboiled rice are quoted at US$700-720/tonne and US$350/tonne respectively. These have driven down the domestic prices of paddy to 8,000 baht/tonne and 12,000 baht/tonne for Hom Mali paddy, said Mr Charoen.

The association president said he hoped the current export prices of Thai rice had hit rock-bottom and would rebound because of drought which is expected to sutstantialy cut rice yields this year.

He expected the rice market situation would return to normal once the government manages to off-load 4-5 million tonnes of rice in the stockpile this year and another five million tonnes next year.

Thailand ranks the world’s second rice exporter last year with 9.8 million tonnes of rice exported compared to Number One exporter, India’s 10.2 million tonnes. The country is expected to export nine million tonnes of rice this year.

Source: http://englishnews.thaipbs.or.th/content/148641


-- Thai PBS 2016-01-29

[Laughing Gravy]

This must have an impact on the economy suggesting that the information given out daily that all is rosy, just isn't true.

[terryp]

good to see all is going to plan

[trogers]

Not to worry, prices will spike up this time next year due to depleting stocks and bad harvests two years in a row because of droughts.

[apetley]

......yeah. Every cloud has a silver lining.

[trogers]

......yeah. Every cloud has a silver lining.

Not any lining. Just plain economic projection.

[Roota]

This of course is the dirty little secret behind Thailand's #1 or #2 rank in rice exports in recent years: they've just undercut everyone else. And it's a bit sad when your only hope for rising prices is to look forward to a drought.

[Ulic]

Another couple of years combined with the drought and all the stored rice will be cleared

out and then rice prices will increase. In the mean time the government can help farmers

by increasing rice quality and efficiency in production.

[kimamey]

Not to worry, prices will spike up this time next year due to depleting stocks and bad harvests two years in a row because of droughts.

"Global economic slowdown combined with huge rice stocks and substantial oil price drop which has sapped the purchasing power of Thailands main rice buyers have driven the export price of Thai rice to the lowest in ten years."

Is this drought worldwide? If not will it only affect stocks in Thailand and surrounding countries? Also how will a drought in Thailand turn round the global economy and the price of oil?

BTW I do realise you may be being sarcastic.

[sawadee1947]

that might not be the end of down turn. There are too many competitors on the market.

[trogers]

Not to worry, prices will spike up this time next year due to depleting stocks and bad harvests two years in a row because of droughts.

"Global economic slowdown combined with huge rice stocks and substantial oil price drop which has sapped the purchasing power of Thailands main rice buyers have driven the export price of Thai rice to the lowest in ten years."

Is this drought worldwide? If not will it only affect stocks in Thailand and surrounding countries? Also how will a drought in Thailand turn round the global economy and the price of oil?

BTW I do realise you may be being sarcastic.

No need for droughts worldwide. Just in the three largest exporting countries - Thailand, India and Vietnam.

[MorristheRunt]

Thai rice is very over rated, in my humble opinion its very poor.

Time for the powers that be to improve agricultural education and invest in machinery....

[Daryle]

Thai rice is very over rated, in my humble opinion its very poor.

Time for the powers that be to improve agricultural education and invest in machinery....

Agreed, productivity improvements are needed across the board. Meanwhile the current Government will need to come up with a creative supplementary income scheme to undermine social unrest, if the economy continues to decline.

Sent from my iPhone using Tapatalk

[Reigntax]

Thai rice is very over rated, in my humble opinion its very poor.

Time for the powers that be to improve agricultural education and invest in machinery....

Not just Thai, all rice is overrated!

[elgordo38]

Another couple of years combined with the drought and all the stored rice will be cleared

out and then rice prices will increase. In the mean time the government can help farmers

by increasing rice quality and efficiency in production.

Will there be any farmers left to mentor or just large conglomerations holding large tracks of land after squeezing the little guy out of business.

[djlest]

Thailand tries to inflate the price of rice by stock piling it and messing it up for all other countries... i bet they are all laughing at Thailand now as their selfish scheme turns to dust...

[rubl]

Thailand tries to inflate the price of rice by stock piling it and messing it up for all other countries... i bet they are all laughing at Thailand now as their selfish scheme turns to dust...

You should have used past tense.

The previous Thai government tried and messed up. The RPPS turned to dust.

[GOLDBUGGY]

What is sad is that about 800 Million People don't have enough to eat. That is about 1 in ever 9 people on Earth. But yet you can't sell Rice. If each of these people could buy just 10 kilograms of Rice they would need to sell 8 Million Tonne. There isn't an over supple of Rice. There is an under supply of money to the poor.

[trogers]

What is sad is that about 800 Million People don't have enough to eat. That is about 1 in ever 9 people on Earth. But yet you can't sell Rice. If each of these people could buy just 10 kilograms of Rice they would need to sell 8 Million Tonne. There isn't an over supple of Rice. There is an under supply of money to the poor.

And the poor are churning out more poor by the half dozens...

[tonbridgebrit]

Not to worry, prices will spike up this time next year due to depleting stocks and bad harvests two years in a row because of droughts.

"Global economic slowdown combined with huge rice stocks and substantial oil price drop which has sapped the purchasing power of Thailands main rice buyers have driven the export price of Thai rice to the lowest in ten years."

Is this drought worldwide? If not will it only affect stocks in Thailand and surrounding countries? Also how will a drought in Thailand turn round the global economy and the price of oil?

BTW I do realise you may be being sarcastic.

No need for droughts worldwide. Just in the three largest exporting countries - Thailand, India and Vietnam.

So, if we're lucky, we have two years of drought, in Thailand, India and Vietnam.

And this will solve the world rice problem ??

Okay, who's got a magic wand that will make it not rain for two years ?

[trogers]

Not to worry, prices will spike up this time next year due to depleting stocks and bad harvests two years in a row because of droughts.

"Global economic slowdown combined with huge rice stocks and substantial oil price drop which has sapped the purchasing power of Thailands main rice buyers have driven the export price of Thai rice to the lowest in ten years."

Is this drought worldwide? If not will it only affect stocks in Thailand and surrounding countries? Also how will a drought in Thailand turn round the global economy and the price of oil?

BTW I do realise you may be being sarcastic.

No need for droughts worldwide. Just in the three largest exporting countries - Thailand, India and Vietnam.

So, if we're lucky, we have two years of drought, in Thailand, India and Vietnam.

And this will solve the world rice problem ??

Okay, who's got a magic wand that will make it not rain for two years ?

El Nino!

[DrTuner]

This of course is the dirty little secret behind Thailand's #1 or #2 rank in rice exports in recent years: they've just undercut everyone else. And it's a bit sad when your only hope for rising prices is to look forward to a drought.

Thais are interested in rankings and rankings only. #1 gives a lot of face, to hell with profitability or some such folly.