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Thai rice export to meet 2015 target

The Thai Ministry of Commerce expressed confidence that Thai rice will meet its annual export target, despite the ongoing drought crisis.
The Thai Ministry of Commerce expressed confidence that Thai rice willmeet its annual export target, despite the ongoing drought crisis.

Theministry forecast that the price of Thai rice in the second half of theyear is expected to rise, due to low supplies stifled by the dryseason. The drought has hit many rice producers in the region, and anumber of countries began to import rice for fear of further drought.

Despitehigh overseas demand, the ministry has insisted that the governmentneeds to take a conservative approach and maintain reserves of at leastfive million tons to ensure food security.

Many countries in theregion are expected to vie for Thai rice imports undergovernment-to-government and private contracts. The Philippines, forexample, is expected to open rice bidding soon, in order to ensureadequate supply amid region-wide drought. The ministry is confident thatThailand will be on target this year and export 10 million tons ofrice.-VNA
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