Price of Thai rice reaches 425 US dollars per ton on global market

[webfact]

Price of Thai rice reaches 425 US dollars per ton on global market

 

 

BANGKOK, 31 May 2017 (NNT) - The Thai Rice Exporters Association has revealed that the price of Thai rice has reached 425 US dollars per ton, due its believed to the decreasing supply of rice on the global market 

Honorary President of Thai Rice Export Association, Chukiat Opaswong said today prices of rice worldwide have been increasing as global rice supplies are declining. Thailand has been able to raise the price from 365 dollars to 425 dollars per ton over the past two months. 

Even though Vietnamese rice is sold at a price 45 dollars cheaper, demand for Thai rice continues to grow especially in Iraq, Iran and African countries. 

Chief Executive Officer of the Rice Trader Ltd Jeremy Swinger expressed his belief that the price of Thai rice would not decline because of the stable demand. The price is even likely to go up by another 20 dollars in the next three months. 

Despite the growing demand, Thai rice exports to Hong Kong have declined. Kenneth Chan, Chairman of the Hong Kong Rice Merchants Association, has suggested Thailand do more to promote Jasmine rice among Chinese consumers because Jasmine rice is generally more popular than other strains.

 

-- nnt 2017-05-31

[USPatriot]

And its 4 dollars for a pound. Unless you want to buy 50 pounds. Its not the farmers making the money. If I remember right China is the biggest buyer if thai rice

[al007]

How does this compare to what the farmers receive

[David in the north]

5 minutes ago, al007 said:

How does this compare to what the farmers receive

I think the farmers got 6+/- baht a kilo this last crop.
Possibly enough to pay costs

[al007]

5 minutes ago, David in the north said:

I think the farmers got 6+/- baht a kilo this last crop.
Possibly enough to pay costs

So how much is that for a ton

[Chris Lawrence]

Yeah 6 baht. My wife says "no good"

[lungnorm]

1 hour ago, al007 said:

So how much is that for a ton

6 x 1000 = 6000baht

[Srikcir]

7 hours ago, webfact said:

prices of rice worldwide have been increasing as global rice supplies are declining.

According to the Grain Market Report (dated May 25, 2017), the World Total Rice Supply vs. Use is as follows (in millions milled tons):

2016/2017 forecast   - 602.0 vs 482.6

2017/2018 projected - 606.6 vs 487.7

http://www.igc.int/downloads/gmrsummary/gmrsumme.pdf?

 

[al007]

1 hour ago, lungnorm said:

6 x 1000 = 6000baht

So the farmer who struggles and make no money gets 6000 baht around $175 and someone else gets $425 for doing little work

 

Seems to me the poor farmers are being exploited, YET AGAIN

[edwinchester]

3 hours ago, David in the north said:

I think the farmers got 6+/- baht a kilo this last crop.
Possibly enough to pay costs

Yes just about. Lady in our village was recently crying that she only received 6500 a tonne from the local rice mill which was exactly breakeven for her.

Somebody is making a profit somewhere but I don't think it's the farmers who sell to the mills.

[Ceruhe]

And to think we are paying ~30baht/kg....

[speedtripler]

3 hours ago, al007 said:

So how much is that for a ton

You really had to ask.someone that? 

[al007]

We do not farm rice, last year we bought 30 bags at 10Baht per kilo from the farmer and good for us and good for him

 

It works out at around 20 Baht when the shell is removed

 

Macro at present has Rice at 72 baht for five kilos (14.5 baht per kilo) that we feed our dogs along with boiled pig and some fish

 

Our dogs may cost more to feed than us, four Alsatians !

[speedtripler]

1 minute ago, al007 said:

We do not farm rice, last year we bought 30 bags at 10Baht per kilo from the farmer and good for us and good for him

 

It works out at around 20 Baht when the shell is removed

 

Macro at present has Rice at 72 baht for five kilos (14.5 baht per kilo) that we feed our dogs along with boiled pig and some fish

 

Our dogs may cost more to feed than us, four Alsatians !

Never knew dogs could eat rice, you learn something new every day.... Lol

[al007]

1 minute ago, speedtripler said:

You really had to ask.someone that? 

There are many types of Ton, metric pounds to list but a couple

[speedtripler]

Just now, al007 said:

There are many types of Ton, metric pounds to list but a couple

 he said kilos... 

You deserve  citizenship 

[SOUTHERNSTAR]

38 minutes ago, speedtripler said:

Never knew dogs could eat rice, you learn something new every day.... Lol

In Thailand ? Cats, dogs, humans, fish, cattle, pigs all eat rice.

[speedtripler]

15 minutes ago, SOUTHERNSTAR said:

In Thailand ? Cats, dogs, humans, fish, cattle, pigs all eat rice.

The dogs around my area must be hi-so dogs.. 

 

They wouldn't touch a plate of rice, rats and pigeons end up taking it.... 

Problably they're overfed by locals on tastier foods 

[BEVUP]

5 hours ago, David in the north said:

I think the farmers got 6+/- baht a kilo this last crop.
Possibly enough to pay costs

Yes but that's for paddy rice yet to be dehusked 

so you would no doubt lose a third of that weight for the said market price 

which may equall to 6 bht = 15c + for paddy ( less than a kilo of clean rice ) where the clean rice sells for 42 c a kilo

[Cadbury]

8 hours ago, USPatriot said:

And its 4 dollars for a pound. Unless you want to buy 50 pounds. Its not the farmers making the money. If I remember right China is the biggest buyer if thai rice

Yes and China is the biggest producer of rice.

There is no decreasing supply of rice on the global market. There is a decreasing supply of Thai rice on the global market. All that Thailand seems to have on offer is rotting rice in storage.

Thailand has slipped down the scale on rice production and Vietnam and India are up their with the biggest producers. Jasmine rice will always be a favourite but it is quantity and price of rice for everyday consumption that leads the way. 

Last month I travelled west of Udon Thani and saw for myself the preponderence of neglected rice paddies.

Can't blame the rice growers. The middle men and others on the dark side seem to be sucking the life blood out of the rice industry which is par for the course in Thailand.

 

[speedtripler]

27 minutes ago, BEVUP said:

Yes but that's for paddy rice yet to be dehusked 

so you would no doubt lose a third of that weight for the said market price 

which may equall to 6 bht = 15c + for paddy ( less than a kilo of clean rice ) where the clean rice sells for 42 c a kilo

I eat brown rice and it costs much  more than 42  per kilo at tops.... 

 

The farmers maybe getting ripped off but they sell it for the agreement price or they can keep it I suppose.... Business is business.... Not charity

 

I remember when govt paid over the market price for rice once and a lot of people (rice farmers included) profited from buying Cambodia or Laos rice and passing it off as stuff they grown themselves for the high premiums ... 

 

These are also the first people who demand help from Bkk when they have a bad season which isn't optimal for a rice crop... They are greedy capitalists when it suits them... But impoverished farmers who need govt handouts when it doesn't go their way

 

Hard to feel sorry for them if all they got was "this year's fair market price" without a subsidy on top

 

Maybe consider growing something else next year if you can't sell the rice? 

 

 

 

 

 

[al007]

23 minutes ago, speedtripler said:

I eat brown rice and it costs much  more than 42  per kilo at tops.... 

 

The farmers maybe getting ripped off but they sell it for the agreement price or they can keep it I suppose.... Business is business.... Not charity

 

I remember when govt paid over the market price for rice once and a lot of people (rice farmers included) profited from buying Cambodia or Laos rice and passing it off as stuff they grown themselves for the high premiums ... 

 

These are also the first people who demand help from Bkk when they have a bad season which isn't optimal for a rice crop... They are greedy capitalists when it suits them... But impoverished farmers who need govt handouts when it doesn't go their way

 

Hard to feel sorry for them if all they got was "this year's fair market price" without a subsidy on top

 

Maybe consider growing something else next year if you can't sell the rice? 

 

 

 

 

 

Pretty harsh words

 

Greedy capitalists not the ones I have met living in issan for ten years

 

Obviously not one of the caring people of the world

 

I am first to say we are all entitled to our opinion, and freedom of speech, subject of course to not living in Issan

 

Keep smiling and stay loving of our fellow creatures

[speedtripler]

5 minutes ago, al007 said:

Pretty harsh words

 

Greedy capitalists not the ones I have met living in issan for ten years

 

Obviously not one of the caring people of the world

 

I am first to say we are all entitled to our opinion, and freedom of speech, subject of course to not living in Issan

 

Keep smiling and stay loving of our fellow creatures

Rice growing is not a charity... But rice farmers seem to think they deserve compensation if it doesn't go their way... 

 

As the old prime minister is learning now, you can't guarantee producers a higher price than market is willing to pay... 

 

Maybe you and her should Google "Adam Smith" ....