Domestic and export prices continued the downward trend due to quiet foreign demand. There
are rumors that the Thai government will release old-crop intervention stock of around 1.6 million
tons next week. However, exporters remain doubtful of this rumor due to the current lack of
inquiries for Thai white rice. Additionally, the Government will discuss the MY2008/09 second
crop intervention program during this week’s meeting of the National Rice Policy Committee.
An effort is underway to pursue rice price cooperation with Vietnam and is expected to be rolled
out at the upcoming 14th ASEAN Summit. Similar efforts in the name of stabilizing rice prices
over the last decade have been ineffective.
Post lowered expected corn production for 2008/09 to 49.5 million tons mainly due to dry
weather in key first corn crop-producing states. Post raised expected rice production for
2008/09 to 8.2 million tons based on reports of excellent yields in Rio Grande do Sul, the
largest rice growing state.
According to operative data of IA APK-Inform, from the beginning of the year, in particular, January, 1-16, Ukraine exported about 940.000 tonnes of grains and oilseeds.
