Sacks of rice at a mall in Bangkok, Thailand (Photo: VNA) Bangkok (VNA) – Exports of Thairice have been on the rise as many countries are stocking up on food suppliesdue to the rampant COVID-19 outbreak, said President of the Thai Rice ExportersAssociation (TREA) Chookiat Ophaswongse.
Local media quoted Chookiat as saying thatmany rice importers worldwide want Thai rice shippers to deliver 100 percent ofthe order quantity immediately, instead of half in March and the rest in Aprilas they used to ask in the past.
The spurt in demand has been a boon forrice producing countries, and also increased the rice price in the globalmarket. The price of Thai rice rose to between 450 USD and 460 USD per tonne from410 USD per tonne.
Due to the recent rise in demand,Thailand’s rice exports in February were estimated at 630,000 tonnes. Chookiat notedthat the growth of rice exports at this time depends on the COVID-19 situation.If the situation recovers, the rice orders will decrease.
He added that another related factor isexport of rice by China. The country would suspend its exports to reserve stocksfor its own food security. Overall Thailand’s rice exports this year would benear the targeted 7.5 million tonnes, he said.
In 2019, Thailand shipped 7.58 milliontonnes of rice abroad, raking in 131 billion THB (over 4 billion USD), down 32percent in volume and 25 percent in value compared to the previous year.
This year, the TREA has set a target toexport 7.5 million tonnes of rice for 4.2 billion USD, similar to that of thecountry’s Ministry of Commerce. It is the lowest target in the last seven yearafter 2013, in which Thailand exported only 6.6 million tonnes of rice./.
VNA
