Thailand’s rice shipments are expected to reach 11 million tonnes this
year thanks to price competitiveness and the government’s accelerated
attempt to dispose of stocks, according to Bangkok Post newspaper.
Thai Ministry of Commerce has sold 1 million tonnes of rice to
China , 170,000 tonnes to Indonesia and 300,000 tonnes to the
Philippines in the latest deals.
Demand is still
strong while the ministry now is able to sell rice stocks on a continued
basis, notably through government-to-government deals for big lots,
Director-General of the Foreign Trade Department Duangporn Rodphaya
said.
For the first eight months of this year, as many as 7.3
million tonnes of rice were shipped overseas, with exports likely to
average 1 million tonnes a month for the rest of the year. Those
shipments exclude rice sold through government to government contracts.
The Thai government vowed in July to sell an average of
500,000 tonnes a month from state stocks and dispose of the surplus of
18 million tonnes within three years through general auctions,
government to government deals and direct sales.-VNA