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.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...