Rice bags stocked up at a factory in Bangkok, Thailand (Photo: AFP/VNA) Bangkok (VNA) – Thailand’s rice exports decreased in both volume and value in February 2019 due to high prices as compared to other competitors and its stronger baht. Charoen Laothammatas, President of the Thai Rice Exporters Association (TREA), said the country’s rice shipments totalled 687,560 tonnes in February, down 27.7 percent from the same month of last year, with the export value hitting 11.69 billion baht (over 368.5 million USD), down 23.5 percent year on year. According to Charoen, Vietnam's rice prices were 40-50 USD a tonne lower than Thai grains and lured buyers from the Philippines and Malaysia. Charoen said that despite the export fall in February, rice exporters still believe shipments will recover in March to 700,000-800,000 tonnes. Thai exporters still maintain huge outstanding purchase orders for white rice and parboiled rice from key African and Asian … [Read more...] about Thailand’s rice exports down in both volume and value in February
Thai rice exporters association
Thailand sees bright prospects for rice exports
Illustrative photo (Source: NNT) Bangkok (VNA) – The Thai Rice Exporters Association has been upbeat about rice shipment prospects in the second half of this year. However, many exporters worried that the rising price of hom mali, or fragrant jasmine, will drive local farmers to plant this variety more, thus causing pressure 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 Thai Ministry of Agriculture and Cooperatives. Hom mali price hits ten-year high on global strong demands and Thai Government’s clear-out of rice stockpile. Each tonne of hom mali is currently sold at 18,000 THB, nearly doubling the price recorded in the same time last year. In the first half of the year, Thailand exported 5.32 million tonnes of rice worth 85.8 billion THB, decreasing 2 percent in volume but rising 7 percent in value year on year. The Philippines plans to … [Read more...] about Thailand sees bright prospects for rice exports
Vietnam’s rice exports jump in first six months
Rice export revenue is expected to hit $40 billion this year as prices of Vietnamese rice exceeded their Thai and Indian peers. According to the Ministry, in June 2018, prices of rice in Thailand and India went down. However, in June, the export price of Vietnam’s five percent broken rice was US$450 per ton, higher than that of India with $410 and Thailand $435. The Vietnam Food Association and the Ministry of Industry and Trade said that in the middle of May, prices of Vietnam’s five percent broken rice hit $458-462 per ton and it was the highest prices within four past years. The Ministry of Industry and Trade explained the fall in rice prices of Thailand and India because there was a decline in demand from their traditional markets and the supplies exceeded the demand in its major markets while prices of India’s rice exports went down because of poor consumption in Africa and Bangladesh. For instance, the average price of paddy (IR50404) in the Mekong Delta … [Read more...] about Vietnam’s rice exports jump in first six months
Thailand raises 2018 rice export target to 10 million tonnes
During the January-April period, Thailand exported 3.31 million tonnes of rice, up 38 percent from a year earlier and outpacing other big rice exporters like India, which shipped 3.21 million tonnes; Vietnam, 1.61 million tonnes; and Pakistan, 1.28 million tonnes.Thailand has revised its 2018 rice export target to 10 million tonnes from the previous forecast of 9.5 million tonnes. (Photo: bangkokpost.com)TREA President Charoen Laothamatas said, during the first quarter of this year, Thai rice exports rose more than expected as demand in several importing countries increased.With orders coming from African and Asian nations, Thailand is expected to fulfill the export target of 10 million tonnes of rice this year, he stressed.The association's upward revision matched the Thai Ministry of Commerce’s latest forecast of 10 million tonnes worth of rice exports for 2018.The Ministry of Commerce also attributed the rise in exports to strong demand, particularly in Southeast Asia … [Read more...] about Thailand raises 2018 rice export target to 10 million tonnes
Thailand to expand rice markets in Malaysia, Indonesia
Illustrative image (Source: thainews.prd.go.th) Bangkok (NNT/VNA) – Thailand’s Department of Foreign Trade has cooperated with the Thai Rice Exporters Association to expand Thai rice markets in Malaysia and Indonesia. Director-General of the Department of Foreign Trade Adul Chotinisakorn said both Malaysia and Indonesia are expected to import more rice from Thailand, and this is a positive sign for the new rice farming season. Adul said the department has recommended riceberry, Hom Nil, and Sung Yod rice to consumers in Malaysia, as they have become more health conscious. He said his agency will also work with the Department of International Trade Promotion to further promote Thai rice in Malaysia. As for Indonesia, Adul said most Indonesian consumers prefer white rice. But due to increasing health awareness in Indonesia, it is an opportunity for Thailand to expand its rice market in the neighboring country. He said his department will … [Read more...] about Thailand to expand rice markets in Malaysia, Indonesia