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Thailand sees bright prospects for rice exports

The Thai Rice Exporters Association has been upbeat about rice shipment prospects in the second half of this year.
Thailand sees bright prospects for rice exports ảnh 1Illustrative photo (Source: NNT)

Bangkok (VNA) – The Thai RiceExporters Association has been upbeat about rice shipment prospects in thesecond half of this year.

However, many exporters worried that the rising price of hom mali, or fragrantjasmine, will drive local farmers to plant this variety more, thus causingpressure on rice price in the market.

The association expected a rice output of 12 million tonnes in the sub-crop,which is higher than the amount of 8 million tonnes forecast by the ThaiMinistry of Agriculture and Cooperatives.

Hom mali price hits ten-year high on global strong demands and ThaiGovernment’s clear-out of rice stockpile. Each tonne of hom mali is currentlysold at 18,000 THB, nearly doubling the price recorded in the same time lastyear.

In the first half of the year, Thailand exported 5.32 million tonnes of riceworth 85.8 billion THB, decreasing 2 percent in volume but rising 7 percent invalue year on year.

The Philippines plans to buy 2 million tonnes of Thai rice, and Indonesia setsto make an order of 800,000- 1 million tonnes of rice from Thailand.-VNA
VNA
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