Thailand is set to sell half-a-million tons of rice on world markets at a loss, as it scrambles to offload a record stockpile deteriorating in quality in warehouses filled with grain.» Read More
Thailand is set to sell half-a-million tons of rice on world markets at a loss, as it scrambles to offload a record stockpile deteriorating in quality in warehouses filled with grain.
March 28- Thailand intervenes in the rice market each year to support millions of farmers, but the scheme launched by the government in October 2011 guaranteed prices so generous that they have caused huge stockpiles, hit exports and strained finances.
*Thailand may have to sell 500,000 T rice on world markets at a loss. SUPHAN BURI, Thailand, March 28- Thailand is set to sell half-a-million tonnes of rice on world markets at a loss, as it scrambles to offload a record stockpile deteriorating in quality in warehouses filled with grain bought under a government scheme.
BANGKOK, March 4- Thai farmers vowed on Monday to stage a major protest after the government signalled it was weighing a plan to cut rice intervention prices by a tenth, in another sign that the state could be running short of funds for the scheme.
--Clyde Russell is a Reuters market analyst. And it's not just a Thailand story, although the government's intervention scheme certainly has resulted in record inventories building up in a country that was until last year the world's biggest rice exporter.
*India only has space to store 47 mln tonnes. SINGAPORE/ NEW DELHI, Feb 26- India will be unable to consume or export enough wheat and rice to rein in a record stockpile after another bumper harvest, a failure that means crops risk rotting in fields instead of being sold on world markets to cash in on higher prices.
*USDA projects record large U.S. corn, soy harvests. "It's the mighty snowstorm," said Jerry Gidel, chief feed grains analyst for Rice Dairy. At the Chicago Board of Trade, March wheat lost 2.2 percent to $7.22- 1/ 2 per bushe1 by 11:45 a.m. CST.
BANGKOK, Jan 16- Thailand, struggling to find storage for a rice buying scheme that cost the country its crown as the world's biggest exporter of the grain, will rent private warehouses to store next month's harvest, government officials said on Wednesday.
*Supply rises in India, Vietnam. *India becomes world's biggest exporter. BANGKOK, Jan 9- Asian rice prices fell this week as supplies far exceeded demand, with top producers India, Pakistan and Vietnam competing with each other to attract business, traders said on Wednesday.