Thailand gets urgent rice orders from Bangladesh, Sri Lanka
Bangladesh and Sri Lanka are negotiating an urgent purchase of about 400,000 tonnes of rice from Thailand to replenish their falling stocks which were caused by severe droughts and floods, according to Thai media.
Thailand gets urgent rice orders from Bangladesh, Sri Lanka. (Photo: VNA)
Bangkok(VNA) – Bangladesh and Sri Lanka are negotiating an urgent purchase of about400,000 tonnes of rice from Thailand to replenish their falling stocks whichwere caused by severe droughts and floods, according to Thai media.
If the deals aresealed, all rice will be transferred within 60 days and the deal will besecured through government-to-government (G-2-G) contracts.
Each country aims toimport 200,000 tonnes of rice – mostly parboiled grade and common grade whiterice. The benchmark common grade 5 percent white rice was quoted at 410 USD pertonne while parboiled 100 percent grade white rice was fetched at 439 USD a tonne.
Bangladesh and SriLanka normally supplemented their stocks with rice from neighbouring Pakistanand India when needed. In 2016, they imported 280 tonnes and 151 tonnes of Thairice, respectively.
However, Thailand’sstate rice stocks are running low as its Ministry of Commerce has opened auctionsto sell it in recent years. There are only a few million tonnes left, comparedwith the record high of 18 million tonnes before.
As the stocks arelow, it is likely that the G-2-G rice deals could involve private firms whowould deliver parts of the rice amount. Bangladesh is approaching private Thaiexporters to obtain the best price.-VNA
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Thailand gets urgent rice orders from Bangladesh, Sri Lanka. (Photo: VNA)
