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Rice imports advanced by Philippines after the storms Thanapat Yartcharoen 5004641097 Pakorn Tantiphayak 5004641345.

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Presentation on theme: "Rice imports advanced by Philippines after the storms Thanapat Yartcharoen 5004641097 Pakorn Tantiphayak 5004641345."— Presentation transcript:

1 Rice imports advanced by Philippines after the storms Thanapat Yartcharoen Pakorn Tantiphayak

2 Philippines Philippines is the world’s biggest rice importer On Sept 26, Ketsana struck Philippines’s largest rice growing area causing heavy rainfall and Typhoon Parma hits Luzon on Oct 3 rd. Parma and Ketsana hit central and northern Luzon wiping out 13% of Philippines fourth quarter forecast of 6.5 million tons of rice crops.(about 0.85 millions ton) 450,000 tons of milled rice

3 The tender Because of the damage from the storm, Philippines have to increase rice import next year Philippines is holding a tender for 250,000 tons of rice on October 30 th for next year consumption(maybe it will hold more) The tender may drive the rice prices higher

4 The factors that cause increase in the rice prices The contraction in supply The contract raise the concern that there might be a global food crisis (wrong signal to the market) Declining stock piles, worldwide rice stockpiles may drop 3% to millions tons next year India(world’s largest rice producer and consumer) production may fall 18% after drought. Falling dollars

5 The tender Philippines will seek suppliers from Thailand, Vietnam, China, Pakistan, Australia, the U.S and India for deliver between January and April. Thailand is the biggest rice exporter after by Vietnam

6 Vietnam’s movement after storm Vietnam expects to start signing rice-export contracts with the Philippines earlier than usual Agreements for 250,000 metric tons will be signed from the end of this month The Philippine purchases will boost the price of Vietnam’s 25 percent broken-grain variety Philippine imports in 2010 from all states may gain 13 percent from about 1.8 million tons

7 What should be movements from Thailand? President of the Thai Rice Exporters Association Chookiat Ophaswongse, said the association is currently talking with the government of the Philippines about an agreement to export 500,000 tons of Thai rice. At present, the government of the Philipines has agreed to buy 200,000 tons of Thai rice.

8 What should be movements from Thailand? Prime minister Abhisit just donated rice to Philippines in the 15 th Asean summit conference. What do you think about this? Any idea?

9 References Rice Imports Advanced by Philippines After Storms (Update2) Vietnam Expects to Sign Philippine Rice Contracts After Storms Philippines May Boost Rice Imports After Storm Damage (Update2) Rice Harvest Loss May Mount in Philippines on Typhoon (Update2) Rice Jumps to Nine-Month High on Philippine Import Prospects


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