Thai rice exports expected to exceed 8 million tonnes
Thailand's rice exports are expected to exceed 8 million tonnes this year, driven by the weakness of the baht and rising demand in the global market, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association (TREA).
Bangkok (VNA) - Thailand'srice exports are expected to exceed 8 million tonnes this year, driven by theweakness of the baht and rising demand in the global market, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association(TREA).
Thai rice shipments reached1.5 million tonnes in the first two months of this year, compared with 900,000tonnes in the same period of 2021, said Chookiat.
If Thailand can ship anaverage of 700,000 tonnes a month, the total export volume will likely be atleast 8 million tonnes this year, well over the 7 million tonnes theassociation forecast," he said, adding that export value is estimated at130 billion THB, up from 110 billion THB last year.
Chookiat was quoted by localmedia as saying that Thai rice export prices are now competitive as the bahtweakens, partially because of the ongoing war. Thai rice prices are now closeto those of Vietnamese grains, he said.
The free-on-board price of 5 percent Thai white rice is now offered at 420 USD,the same rate as Vietnamese rice. The price is 20 USD higher than the 400 USD atonne recorded at the beginning of this month.
The export markets in theMiddle East, such as Iraq, Iran and Saudi Arabia, are back this year, Chookiatsaid.
Given COVID-19 outbreaks in Hong Kong (China) and Singapore, as well as the lockdown in Shenzhen, China, consumersare buying more Thai rice in supermarkets to stock up, he said.
The war had a strong impact on Thai rice prices, causing them to rise slightlybecause of higher prices for wheat and corn, he said, adding that TREA expectsThai rice prices to increase by 5 percent or 20 USD per tonne in the secondquarter of this year.
The projected uptick is modest because there are relatively high stocks inIndia, while rice production is expected to gain this year both in Vietnam andThailand, said Chookiat./.
Thailand’s total trade with neighbouring countries, including cross-border trade, came in at 141.07 billion THB (4.22 billion USD) in January, up 9.49 percent year on year.
Vietnamese Ambassador to Thailand Phan Chi Thanh had a meeting on March 16 with Thai Minister of Construction Saksayam Chidchob who affirmed that Thailand is interested in strengthening transport cooperation with Vietnam.
The Thai cabinet on March 22 adopted a 10-point plan to ease the increasing living cost burden on locals due to impacts of the rising fuel prices arising from the Russia-Ukraine conflict.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Source: thaivisa.com)
