BANGKOK, Nov 9 (TNA) – Rice exporters see 2018 as a golden year for Thai rice as it is considerably demanded at high prices, but warn some competitor is making a threatening move.
Charoen Laothamatas, president of the Thai Rice Exporters Association, said that from January to Oct 23, Thailand exported 8.74 million tons of rice, up 0.1% year-on-year. He believed the country would achieve its rice export target of 11 million tons worth US$5.6 billion or 177 billion baht this year.
Rice-importing countries were increasing their orders because their local rice yields dropped, he said. They include the Philippines, Indonesia, Malaysia and African countries. Besides, the Thai government was proceeding with its government-to-government rice trade campaigns and cleared the country’s old stocks of rice. As a result, buying countries were ordering more rice from Thailand to build up their rice stocks, Mr Charoen said.
Next year he predicted Thailand would export 10 million tons of rice worth US$5 billion. The Philippines and Indonesia would cut their rice imports by 3 million tons altogether because they imported considerable amounts this year.
Mr Charoen also said the price of Hom Mali fragrant rice soared to 17,500-18,000 baht a ton at the beginning of the normal crop season and made 2018 a gold year for farmers. The price rose from 12,000-14,000 baht a ton in the same period last year. He attributed it to low yields and the government’s measure to limit the amount of rice supply in markets.
Mr Charoen said the price of Hom Mali rice exports rose to US$1,100 per ton and buyers were turning to other sources of fragrant rice.
He warned that fragrant rice from Vietnam was priced at only US$600 per ton. Vietnamese rice became a threatening competitor because it was further developed although its grain beauty and fragrance were still inferior, Mr Charoen said. (TNA)
