InfoQuest, (May 07, 2019) -- Mr. Somkiat Kimawa, manager assistant of Bank for Agriculture and Agricultural Cooperatives (BAAC), released the prices of agricultural products in May 2019 compiled by the Research and Innovation Development Center of BAAC. BAAC predicts that unhusked rice with 15 percent water will see price rise. Drought dented rice yield in the second quarter, hence the reduced market supply. Compared with last month, rice price will rise 0.11-1.58 percent, standing at 7,837-7,952 baht per ton.
Worrying about the drought, rice merchants have increased inventory. Compared with last month, the price of Thai Hom Mali Rice will rise 0.17-0.48 percent, standing at 15,665-15,711 baht per ton. And the price of long-grain sticky rice will rise 0.36-0.53 percent, standing at 10,683-10,702 baht per ton.
According to sugar price repurchased by hedge funds and speculators of New York market, the price of raw sugar will increase 1-2 percent compared with that of last month, standing at 12.89-13.03 cent per pound (9.12-9.22 baht per kilogram). The main reasons are the expected sugar output drop in Brazil and India caused by dry weather, and reduced sugar inventory caused by the price rise of crude oil, which means that more sugar will be used to produce ethyl alcohol.
Currently, it is the season of deciduous rubber.. What's more, Thailand, Indonesia and Malaysia have imposed restriction measures on rubber export, hence the supply drop in global market. Compared with last month, the price of natural rubberwood will rise 0.19-2.44 percent, standing at 45.52-46.55 baht per kilogram.
The increasing demand of pork in domestic and foreign markets, the outbreak of African swine fever (AFS) in Vietnam and Cambodia, and the slow growth of pigs because of hot weather, lead to the reduced market supply. Thus, compared with last month, pork price will increase 0.50-2.68 percent, standing at 69.00-70.50 baht per kilogram.
The price of corn for feedstuffs with humidity not exceeding 14.5 percent will drop 0.20-0.80 percent, standing at 7.73-7.77 baht per kilogram. The main reason is inventory has increased after corns for feedstuffs come into season gradually, while the demand in animal feed market is relatively stable.
As cassava is put to market, plus the export decline to China caused by baht appreciation, the price of cassava will drop by 0.94-2.50 percent, standing at 2.10-2.07 baht per kilogram.
As more palm oil appears on the market, the inventory has increased; what's more, domestic demand and export have decreased. As a result, the price of palm oil will drop by 0.50-1.50 percent compared with last month, standing at 1.93-1.95 baht per kilogram.
The expected output of Pacific white shrimp will continue to rise, and particularly, the Pacific white shrimp of India and Vietnam will be put to market in May and June. As a result, shrimp price in world market will drop. Compared with last month, the price of Pacific white shrimp will drop 0.68-2.03 percent, standing at 145.00-147.00 baht per kilogram.
Source: InfoQuest, by Nisarat Wichiensri / Sasithorn, translated by Xinhua Silk Road
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road
A single purchase
