Wednesday, December 11, 2019

Raw sugar price to fall as rise seen for some agricultural products

Dec 03. 2019
Somkiat Kimawaha, Executive Vice President of BAAC
Somkiat Kimawaha, Executive Vice President of BAAC
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By The Nation

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The Innovation Research and Development Centre under the Bank for Agriculture and Agricultural Co-operatives (BAAC), has forecast higher prices in December for agricultural products including unmilled rice, unmilled Jasmine rice, unmilled sticky rice, maize, rubber, cassava, oil palm, pig, and Vannamei white shrimp tend to be rise, while raw sugar prices may slide.

Executive Vice President of BAAC, Somkiat Kimawaha said on Tuesday (December 3) that a rise in price is expected for unmilled rice with 15 per cent of moisture content, to Bt7,965-7,974 per tonne, up by 0.85-0.96 per cent year on year, due to the upcoming signing of a Memorandum of Understanding (MOU) on the quality of Thai rice exports between the Commerce Ministry and the government of Iraq this month. 

Selling price of unmilled Jasmine rice is expected to rise to Bt14,831-14,920 per tonne, an increase of 1.70 -2.31 per cent year on year amid growing demand from foreign countries ahead of Christmas and New Year. The government also launched measures to stabilise price in drive for exports.

Price of unmilled long grain sticky rice is expected to reach Bt14,403-14,584 per tonne, up by 1.43-2.70 per cent year on year due to declining production and stocks, as well as the government’s measure to maintain price.

Selling price of maize with 14.5 per cent of moisture content is forecast at Bt7.65-7.72 per kilogramme, up by 0.50-1.50 per cent year on year due to less production at the end of the harvest season (August to November), while domestic demand remains strong.

Raw rubber sheet price may rise to Bt36.47-38.45 per kilogramme, up by 0.08-5.52 per cent year on year due to the government’s measure to maintain price and decreasing market supply, attributed to a new leaf disease across the lower southern region. Positive signals from the trade negotiations between the US and China have also boosted the confidence of investors in the rubber market.

Cassava price is expected to rise to Bt1.89 -1.96 per kilogramme, up 1.61-5.38 per cent year on year, mainly due to import measures imposed by neighbouring countries. It has a positive effect in maintaining domestic price, while favourable weather during harvest resulted in higher percentage of starch.

Oil palm price is forecast at Bt3.55-3.70 per kilogramme, up by 3.20-7.56 per cent year on year, thanks to government promotion of B10 diesel fuel, prompting biodiesel plants to produce B10 diesel fuel for stock.

Pork price will climb to Bt60.00-61.50 per kilogramme, up by 0.60-2.50 per cent due to higher demand ahead of the New Year in the domestic and overseas markets.

Price of Vannamei white shrimp, with 70 shrimp per kilogramme, is forecast to sell at Bt140.00-155.00 per kilogramme, up by 3.00-13.97 per cent due to increasing demand during the tourist season and the New Year, while the cold weather causes shrimps to grow slower, resulting in lower production.

Meanwhile, raw sugar price is expected to fall by 12.62-12.75 cent per kilogramme or Bt8.43-8.52 per kilogramme on the New York market amid concerns over India's subsidy for its sugar exports which may affect the world's production volume.

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