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THAILAND RICE EXPORT PRICES FALL ON LOWER DEMAND
10/10/2017

INDO ASIAN COMMODITIES (10/10/2017)

THAILAND RICE EXPORT PRICES FALL ON LOWER DEMAND

Export prices of Thailand rice further declined 3-4 percent mainly due to a reduced demand from foreign buyers who are reportedly waiting for new rice supplies to enter the market, the U.S. Department of Agriculture (USDA) said in a note.

According to the note, prices also fell from the previous week due to the weakening of the Thai baht from 32.95 baht/dollar to 33.38 baht/dollar.

“Foreign buyers are reportedly waiting for new supplies of MY2017/18 main crop rice which is expected to enter the market in the next couple of weeks. The market is anticipating the production of large supplies of white and fragrant rice due to favourable weather conditions and minimal flood damage,” the note said.

Rice Export Update

According to the USDA, unofficial and preliminary rice exports (excluding premium white and fragrant rice) for September 18- 24, 2017, totalled 202,172 metric tons, up 1,688 metric tons from the previous week and up 8,162 metric tons from the four-week moving average of 194,010 metric tons.

Rice exports from January 1 – September 24, 2017, totalled 6,531,772 metric tons

https://www.indoasiancommodities.com/2017/10/10/thai-rice-export-prices-fall-lower-demand/

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