Thailand to resume selling rice to Indonesia under G2G contracts
The Thai Government plans to sign a memorandum of understanding (MoU) to sell 1 million tonnes of rice a year in a government-to-government (G2G) deal with Indonesia late this month.
Thai rice sold at a supermarket in Bangkok on March 4, 2020 (Photo: AFP/VNA)The Bangkok Post on March 11 quoted Commerce Minister Jurin Laksanawisit as saying that the MoU signing will be organised in the final week of March, covering no more than one million tonnes of white rice 15 to 25 percent broken a year for four years.
However, the rice sales also include conditions, depending on the rice production of the two countries and the world rice price.
Thailand sold a total of 925,000 tonnes of rice under G2G contracts to Indonesia under the previous agreement from 2012 to 2016.
Over the past five years, no G2G rice deals between the two countries were carried out, as the Indonesian Government initiated a self-sufficiency policy with regard to rice and promoted domestic rice production.
Nonetheless, Indonesia has still faced a shortage of domestic rice supplies in some years due to natural disasters. The COVID-19 pandemic also prompted Indonesia to import more rice to serve domestic demand and to stabilise domestic rice prices.
Last year, Thailand exported a total of 89,406 tonnes of rice to Indonesia, up 46.3 percent from the previous year, with value totalling 2.262 billionTHB, up 86.7 percent.
Jurin said Thailand is also in talks for a similar G2G rice deal with the Bangladesh government for one million tonnes of white rice and parboiled rice./.
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