The price of Thai rice is higher than that of competitors due to limited supply and the strengthening of the baht, which could hurt exports, the Thai Rice Exporters Association (TREA) said.
Since the novel coronavirus (COVID-19) epidemic will surely affect exports to China, diversifying markets is an urgent requirement for Vietnamese rice exporters, experts have said.
Thailand’s economy grew 4.8 percent in the second quarter of this year, higher than that of the first quarter and the highest level in five years, according to a report from the Bank of Thailand (BoT).
An estimated 524,000 tonnes of rice was exported in January, bringing home 249 million USD, reported the Ministry of Agriculture and Rural Development.
Vietnamese rice exports have got off to a positive start right from the outset of the year, with promising signs from traditional rice importers like the Philippines and Indonesia.
The Thai Government needs to find the right markets for organic rice before encouraging farmers to increase the cultivating area from 300,000 rai (48,000 hectares) to 1 million rai in 2019, said President of the Thai Rice Exporters Association Charoen Leothamatas.
Thailand’s Ministry of Commerce has bolstered rice exports to Hong Kong (China) and invited rice importers from Hong Kong to discuss the import of Thai rice in the coming time, reported Thai media on November 1.
Eleven rice exporters of Thailand has planned to buy all 160,000 tonnes of edible rice in national reserves, which was put for the third rice auction this year.
Bangladesh and Sri Lanka are negotiating an urgent purchase of about 400,000 tonnes of rice from Thailand to replenish their falling stocks which were caused by severe droughts and floods, according to Thai media.
The Thai Ministry of Commerce is set to invite rice buyers and importers worldwide to a meeting in Thailand next week to boost exports of the country’s rice.
Philippine businesses have been allowed to import additional 293,100 tonnes of rice from Vietnam to ensure food demand during the 2017 between-crop period, according to the Vietnam Food Association.
Philippine businesses have been allowed to import additional 293,100 tonnes of rice from Vietnam to ensure food demand during the 2017 between-crop period, according to the Vietnam Food Association.
Vietnam hopes to export 1.6 million tonnes rice in the four remaining months of the year, raising exports for the year to 4.9 million tonnes, said the Vietnam Food Association (VFA).
Dang Hoang Hai, Head of the Ministry of Industry and Trade’s European Market Department talked about opportunities and challenges the EAEU FTA would bring to Vietnam's seafood.
Thailand’s Government expects to earn 11.54 billion baht (328 milllion USD) from selling 1.11 million tonnes of rice in government stockpile to 29 contractors in the July auction.
ASEAN
