Thailand. Rice export prices remain high

26.06.2020 21:00 "Agro Perspectiva" (Kyiv) — Following are selected highlights from a report issued by a U. S. Department of Agriculture attache in The Bangkok (Thailand), Rice export prices remain high as exporters still must cover their exchange rate risk form the strengthening of the Thai baht to around 30.8 baht/U.S. $1.00 over the past few weeks. Additionally, domestic prices of Thai rice are facing an upward pressure as the Thai government will participate in the Philippines’ retender to buy 300,000 tons of 25% grade white rice after the result of the initial tender on June 8, 2020 was called off. Thai rice was uncompetitive in the initial tender as the Thai bid (U.S. $541/MT, CIF) was higher than India (U.S. $485 — 487/MT), Myanmar ($489/MT), and Vietnam (U.S. $497/MT).

Rice Export Update

Unofficial and preliminary rice exports (excluding Hom Mali fragrant rice) for June 8–14, 2020, totaled 81,514 metric tons, up 40,261 metric tons from the previous week and up 18,066 metric tons from the four weeks moving average of 63,448 metric tons (Table 2). Rice exports from January 1 — June 14, 2020, totaled 1,924,112 metric tons, down 39 percent from the same period last year.

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