Thai corn price continues to contract

08.06.2017

The sale of feed-quality rice stocks has created downward pressure on farm-gate prices for corn in Thailand as feedmills are substituting rice for corn and imported feed wheat in swine feed rations, according to the USDA GAIN report. In April 2017, farm-gate price for corn further declined to USD 173 per metric tonne, down 7% from the previous month and down 22% from the same period in 2016.

The lower corn price occurred despite the government implementing measures to stabilise domestic corn prices. Prices are expected to continue to face downward pressure due to the sale of feed-quality rice stocks. Meanwhile, import demand for feed wheat has continued to decline due to the government’s import restrictions.


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