Thailand: China rice deal collapse not expected to hurt orders
The Thai Rice Exporters Association (TREA) has recently affirmed that
rice export activities of the country’s private sector are unlikely to
be affected by China’s decision to cancel a deal on buying 1.2 million
tonnes of rice from the government.
The Thai Rice Exporters Association (TREA) has recently affirmed that
rice export activities of the country’s private sector are unlikely to
be affected by China’s decision to cancel a deal on buying 1.2 million
tonnes of rice from the government.
The deal was inked by the Thai Government and Beidahuang, a Chinese state–owned enterprise, on November 20 last year. Under the deal, the first batch of rice exports was expected to be delivered last December. However, the delivery has been cancelled after Prime Minister Yingluck Shinawatra announced the dissolution of the country’s parliament in response to growing protests.
Earlier, Commerce Minister Niwattum Boonsongpaisan said China cancelled the deal due to a probe launched by the National Anti-Corruption Commission (NACC) into the government’s subsidies for rice growers.
China’s cancellation of the rice contract will have no influence on Thailand’s rice export to the country, the National News Bureau of Thailand (NNT) quoted the TREA statement as saying. Last year, Thailand shipped 300,000 tonnes to the nation.
The TREA forecasts exports of 7.5 million tonnes this year, fetching 4.5 billion USD.-VNA
The deal was inked by the Thai Government and Beidahuang, a Chinese state–owned enterprise, on November 20 last year. Under the deal, the first batch of rice exports was expected to be delivered last December. However, the delivery has been cancelled after Prime Minister Yingluck Shinawatra announced the dissolution of the country’s parliament in response to growing protests.
Earlier, Commerce Minister Niwattum Boonsongpaisan said China cancelled the deal due to a probe launched by the National Anti-Corruption Commission (NACC) into the government’s subsidies for rice growers.
China’s cancellation of the rice contract will have no influence on Thailand’s rice export to the country, the National News Bureau of Thailand (NNT) quoted the TREA statement as saying. Last year, Thailand shipped 300,000 tonnes to the nation.
The TREA forecasts exports of 7.5 million tonnes this year, fetching 4.5 billion USD.-VNA
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