January 25, 2014
 
Thai corn price higher after end of big harvest in December (week ended Jan 20, 2014)
 
An eFeedLink Exclusive
 
 
Price Summary
 
Only corn price starts to increase, while there has been many gathering of corn farmers in many areas, who are against the Thai government for the delay in price intervention payment since last year. Almost all corn farmers who sold their corn harvested during the last six months saw plunging local corn price.
 
Although corn price in the market is higher, traders prefer to sell to exporters at lower price than selling to feed mill  because of more higher requirement and limited daily  purchase amount.
 
Corn price increased to THB7.80/kg (US$0.24/kg) this week, from THB7.45/kg (US$0.23/kg) last week. This month marks the end of corn harvest season in the North. 
 
Cassava price is quite stable at THB2.13.kg (US$0.06/kg), while government delays in selling paddy rice from warehouse have pushed prices of rice by-products such as white rice bran and rice bran residue to THB7.80/kg (US$0.24/kg) and THB6.80/kg (US$0.21/kg), from THB7.60/kg (US$0.23/kg) and THB6.40/kg (US$0.19/kg) respectively. Fishmeal price is unchanged at THB25.20/kg (US$0.76/kg).
 
 
Market analysis
 
Cultivated area of corn for 2013/14 is expected to be 2.88 million acres, an increase from 2.86 million acres in 2012/13. All of the increase is accounted for by the replacement from soybean and cassava cultivated area. Total corn production for 2013/14 is expected to be 4.87 million tonnes, an increase from 4.78 million tonnes in the last 2012/13 season.
 
Soybean cultivated area and production continues to decrease each year, with production this year expected to be only 66,628 tonnes.
 
Cassava production this year is expected at 28.75 million tonnes from 3.192 million acres. The ethanol industry still uses cassava as raw material, accounting for 38% of raw materials, while molasses account for the other 62%. This year, about 3 million tonnes of cassava will be utilised by the local ethanol industry.
 
Fishmeal production in 2013 was just about 0.47 million tonnes, while production this year will be higher if the Early Mortality Syndrome outbreak situation improves. Thai fishmeal export is still in competition with Peru, after it was affected by lower Peruvian export price last year.
 
 
PRICE as of  Jan 13
(in Thai baht/kg)
PRICE as of  Jan 20
(in Thai baht/kg)
Changes
(in Thai baht/kg)
Corn 
7.45
7.80
0.35
Cassava roots
2.12
2.13
0.01
White Broken Rice A.1 Super(USD/tonne)
309.00
310.00
1.00
White rice bran
7.60
7.80
0.20
Rice bran residue 
Soybean 
6.40
6.80
Soybean meal 
19.65
19.65
Fishmeal (protein more than 60%)
20.80
20.70
-0.10
US$1=THB 33.0 (January 23, 2014)
 

 
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