Bangkok (VNA) – Thai rice exporters are fretting over their prospects this year as China looks set to ramp up its rice shipments, notably to Africa.

The Bangkok Post on June 12 quoted Chookiat Ophaswongse, honorary president of the Thai
Rice Exporters Association as saying that China produces an estimated 120 million tonnes of rice each year and is likely to raise exports to 3 million tonnes of aged grains this year from 1.5-2 million tonnes last year.

Africa is a potential target market for China now that consumers there are in the habit of eating aged rice, he said.

China’s 5 percent white rice is quoted at 300 USD a tonne, while similar grains from Thailand are quoted at 390 USD, those from Vietnam at 360 USD and those from India at 370 USD.

Chinese rice is very cheap compared with others, said Chookiat, adding that Thailand has run out of stocks of aged rice.

The value of rice exports rose 8.3 percent last year to 5.61 billion USD from 5.18 billion USD in 2017 and 4.40 billion USD in 2016. Rice export prices averaged 507 USD per tonne last year, up 14.1 percent from 2017.

Thai rice shipments totalled 11.09 million tonnes last year, down 5 percent from 11.67 million in 2017 but greater than 2016’s 9.91 million.

For the whole of 2019, rice exporters forecast Thai shipments of 9.5 million tonnes, or 500,000 tonnes shy of the Commerce Ministry’s projection.

Source link

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Vietnam’s Health Supplement Market: Trends, Opportunities, Market Entry

The growing demand for health supplements has resulted in increased usage of imported products as people tend to trust these brands more than domestic ones. Foreign brands tend to be positioned in the premium segment to attract mid-to-high-end consumers, while local brands generally concentrate on the mass market.

The Indo-Pacific Economic Framework for Prosperity and What it Means for Vietnam

The IPEF is offered as a counterweight to China but is positioned in a way where the member countries do not have to choose between the US and China, allowing a high level of membership