Rice exporters in Thailand are urging the new government to help them secure more futures contracts, particularly for the new harvest, in order to curb a fall in prices.

Bangkok Post quoted Chookiat Ophaswongse, Honorary President of the Thai Rice Exporters Association, as saying that local rice exporters have been travelling overseas to sell Thai rice on futures contracts to prevent a drop in prices.

At present, Malaysia is interested in buying more rice from Thailand but wants appropriate offer prices in advance, particularly for newly harvested rice, he said, adding that not only Malaysia but also Indonesia and China show high demands for new rice

Thai exporters expect to sell 400,000 to 500,000 more tonnes if authorities agree on this proposal, he said.

Sermsak Kuonsongtum, the association's Vice President, said Indonesia 's rice-buying agency, Bulog, wants to buy 300,000 to 500,000 tonnes of new rice from either Thailand or Vietnam , while China is asking for about 100,000 tonnes.

The association is teaming up with the Foreign Trade Department to sell Thai rice, he said.

Thailand ’s paddy rice production for the 2014-15 second crop is estimated at 28 million tonnes, while its output for the 2015-16 main crop is estimated at 26-27 million tonnes.-VNA