Chart, exports rice : volume, value until may, and situation of prices

Update of the chart, with datas for may (source BOT, table EC_XT_009).

Volumes remain strong.

Value is skyrocketing… +128 % compare to may 2007.

May 2008 was the peak for rice prices.

The export price of 100 percent grade B white Thai rice, used as a benchmark, rose to a record $1,038 a metric ton May 21, as exporters including Vietnam, India and China curbed shipments to damp domestic prices. (Bloomberg)

Since then, it went down.

The price, set weekly by the Thai Rice Exporters Association, fell 1.5 percent to a three-month low of $849 a ton on July 2, from $862 a ton a week earlier.

But, and this is very important : “Still, that’s more than double the average price of $345 a ton in July 2007.”

This is still a powerful inflationary shock.

2 Responses to “Chart, exports rice : volume, value until may, and situation of prices”

  1. 1 Question 9 July 2008 at 10:51 am

    Hi TC,

    Very useful post, thanks, What is the source if this data and are both data series from the same place and collected the same way? It seems almost impossible for value to go up near 30% in one month when volume dropped by almost as much. Especially when prices seem to have fallen somewhat over the period.

    I suspect that there must be some lag in payment. It also seems that the export figures have far less seasonal change than one would suspect from harvest patterns. If this is export figures from rice stocks, farmers may not be seeing similar gains.


  2. 2 ThaiCrisis 12 July 2008 at 9:47 pm

    My mistake : I forgot to give the source.

    The source is the BOT (Bank Of Thailand).

    Volume and value are given, every month, in a file dedicated to exports.

    Table EC_XT_009

    I use this table for rice, and other items as well.

    As I wrote, prices of rice peaked in may. So the datas (surge in value) seem coherent.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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