Synthesis rice market news 26/9 days

Indonesia plans to import 1.5 million tons of rice from Vietnam and Thailand

The Indonesian government is planning to import 1.5 million tons of rice from Vietnam and Thailand due to prolonged dry weather adversely affected rice production of the country, Reuters quoted the Vice President of Indonesia said.

Indonesia Bulog Food Authority is planning to buy rice from Vietnam and Thailand, however, the time is not yet.

Bulog's rice inventory can be reduced to 600,000 tons by the end of this year while the request to maintain stockpiles at 1.5-2 million tons to prevent price increases.
The Indonesian government expected to need to import rice in March or April next year, but reduced stockpiles are forced Indonesia to import plan to prevent the risk of rising domestic prices.

Indonesian National Bureau of Statistics BPS - each estimated rice output reached 75.5 million of this country attack - also ongoing reassessment, taking into account the impact of drought.

Demand in Indonesia and the Philippines recently decided to import an additional 750,000 tons of rice is expected to help push global rice prices increased.

Thailand planned modify auction regulations rice

The Thai government is planning to amend the auction rules apply to auctions to sell 462 931 tonnes of rice to 29/9 days to encourage healthy competition, according to local sources.

Under the new rules, the government will not announce the floor price reference. This change was made after many critics that the price offered was too low in the two most recent auctions. The Government will also ensure that the auction does not adversely affect the market price.

Directorate General of Foreign Trade under the Ministry of Commerce of Thailand has invited interested parties to submit records to check status on 28/9.

Meanwhile, Rice Policy Committee of Thailand Country topped by Prime Minister has asked the local authorities all conducted surveillance storage of rice to help the government decide to rice of good quality and quantity rice damaged. The inspection of rice stored in warehouses across the country 1800 is expected to end in mid-October.

Thailand currently has 13.5 million tonnes of storage. In the previous 10 auctions, the government has sold 4.56 million tonnes of rice, earning 48.6 billion baht (1.36 billion dollars).