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Export prices increased 2 to 4 percent due to concerns about ongoing drought. The number of rice millers participating in the public tender more than doubled.
As a result of dry weather conditions, crude palm oil (CPO) production for 2015 is estimated to decline by 10 percent to 1.8 million metric tons (MMT) from 2.0 MMT in 2014.
Export prices are steady as traders await a new public tender to be issued on July 6.
MY2015/16 rice production is revised down to 18 million metric tons, down 7 percent from MY2014/15 due to ongoing water supplies shortages in irrigated areas.
Export prices increased 1 to 4 percent due to foreign buyers’ concerns over the drought situation in main-crop rice growing areas.
Export prices declined around 1 percent with results of the tender for 1.1 million metric tons of government stocks still pending.
Export prices declined 2 to 3 percent in anticipation of the sales of government stocks through a public tender for around 1.1 million metric tons on June 15.
MY2014/15 second off-season rice harvest is underway while MY2015/16 main-crop rice cultivation is progressing well.
Export prices are steady this week due to quiet trading as traders await announcement of a new public tender for government stocks and the result of the Philippines’ tender.
Export prices declined around 1 percent in anticipation of additional sales of government stocks. The government expects to issue a new public tender in early June.
Export prices declined around 1 percent in anticipation of additional sales of government stocks. The government expects to issue a new public tender in early June.
This week’s export prices declined 2-3 percent due mainly to further weakening of the Thai baht versus the U.S. dollars.