Thai rice exports for the entire year of 2015 is expected to reach 9.5million tonnes, while the drought disaster has helped in the release ofin-stock rice to feed international market's high demand, says the ThaiRice Exporters Association President.
The President of Thai RiceExporters Association (TREA) Chareon Laothamatas has revealed TREA’sforecast for rice exports in 2015 to be at 9.5 million tonnes. Thisfigure is lower than the previous forecast of 10 million tonnes, whileThai rice exports has already reached 4.5 million tonnes during thefirst half of this year.
He has said that rice exports in thelatter half of this year is expected to be better than the first half,estimated at 800,000 tonnes per month, as the market still experiencesconsistent demand from foreign countries, especially Indonesia and thePhilippines.
The current drought disaster has affected the rice production to fall by 15-20 percent, or at about 2-3 million tonnes of rice.
TheTREA President has said that this situation is a good opportunity forthe government to release its 15 tonnes in-stock rice, which will helpreduce the maintenance costs by approximately 46 million THB per day,and help reduce the pricing pressure of unmilled rice, which couldpotentially lead to higher prices.
Meanwhile, the risk factorsthat could affect the export of Thai rice is the unclear recovery of theglobal economy which could make importer countries decide to decreasetheir imports of rice from Thailand, the TREA President has said.
Thecurrent price for 5 percent white rice from Thailand is at 395 USD pertonne. The TREA has proposed to the government to encourage the exportin the latter half of the year through measures such as releasingin-stock rice, establishing the government-to-government sale deal withChina on the remaining 2 million tonnes of rice, and Baht management toincrease stability and competitiveness with rival exporters.-VNA
The President of Thai RiceExporters Association (TREA) Chareon Laothamatas has revealed TREA’sforecast for rice exports in 2015 to be at 9.5 million tonnes. Thisfigure is lower than the previous forecast of 10 million tonnes, whileThai rice exports has already reached 4.5 million tonnes during thefirst half of this year.
He has said that rice exports in thelatter half of this year is expected to be better than the first half,estimated at 800,000 tonnes per month, as the market still experiencesconsistent demand from foreign countries, especially Indonesia and thePhilippines.
The current drought disaster has affected the rice production to fall by 15-20 percent, or at about 2-3 million tonnes of rice.
TheTREA President has said that this situation is a good opportunity forthe government to release its 15 tonnes in-stock rice, which will helpreduce the maintenance costs by approximately 46 million THB per day,and help reduce the pricing pressure of unmilled rice, which couldpotentially lead to higher prices.
Meanwhile, the risk factorsthat could affect the export of Thai rice is the unclear recovery of theglobal economy which could make importer countries decide to decreasetheir imports of rice from Thailand, the TREA President has said.
Thecurrent price for 5 percent white rice from Thailand is at 395 USD pertonne. The TREA has proposed to the government to encourage the exportin the latter half of the year through measures such as releasingin-stock rice, establishing the government-to-government sale deal withChina on the remaining 2 million tonnes of rice, and Baht management toincrease stability and competitiveness with rival exporters.-VNA
