Thailand confident and on track to meet its high rice exports target, demand


BANGKOK, Oct 3 (Reuters): Thailand is on track to export 6 million tonnes of rice this year due to an anticipated uptick in demand, an exporters body has announced.

A weaker baht, which has depreciated about 13% against the dollar this year, has resulted in lower export prices of Thai rice, making it more competitive against rival exporters, said Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association.

Thailand's 5% broken rice prices were quoted at around $385-$386 per tonne on Thursday, significantly lower than those of the same grade from main competitor Vietnam at $425-$430 per tonne.

Buyers that have in recent years preferred Vietnamese rice such as Malaysia, the Philippines and China, have started buying Thai rice again in recent weeks due to the attractive prices, boosting exporters' confidence that the 6 million tonnes target can be met, he said.

"The exchange rate and domestic prices have increased the competitiveness of Thai rice export prices," Chookiat told Reuters.

"For the remaining three months this year, I think we can export a monthly volume of more than 700,000 tonnes."

Thailand exported about 3.7 million tonnes of the grain between January and September, less than Vietnam's 4.5 million tonnes shipped over the same period.

Chookiat also added that Thai rice exports were unlikely to be affected by flooding across different provinces, which has affected only a small area of rice fields so far. - Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Thailand , Rice , High , Demand , Export , Target , Reachable

   

Next In Aseanplus News

High Saudi death toll overshadows Indonesia's plans to allow ‘umrah’
Dream Cruises to continue operating in Singapore, even as parent company files to be wound up
The hunt for Beijing's wild cats
Laos, Cambodia seek to bolster shared tourism
Cops say illegals on capsized boat near Pontian paid boatman RM580 each and were promised jobs
Proton to introduce smart automobile's new energy vehicles in Asean
Myanmar football teams withdraw from tournaments again
TikTok owner ByteDance reorganises strategic investment team
China to slap new curbs on tech giants' deals: Reuters
97% of Covid-19 beds at Philippine general hospital occupied

Others Also Read


Vouchers