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Thailand's National Rice Policy Committee will consider releasing about 5 million tonnes of deteriorated rice from government stocks for alternative energy use. The Commerce Ministry aims to cut warehousing costs of about Bt17 million per day, and the remaining 3 million tonnes of good-quality rice will continue to be sold by auction.
Clearing old government stocks could add low-priced supply to the Thai market and eases the overhang that pressures global rice prices, though the volumes are low-grade and unlikely to be significant for feed use.
nationthailand.comDec 19, 2016After 100 past bearish policy events, Rough Rice moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
