Connect with us

China

Thai exports threatened by China’s cheaper rice

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

Avatar

Published

on

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

Advertisement
Comments

China

GM sells Thai factory to Chinese automaker GWM

After 20 years of operation in Thailand, General Motors will cease its activities, and resell its factory to the Chinese manufacturer Great Wall Motors

Avatar

Published

on

General Motors (GM) announced it will stop selling Chevrolet vehicles in Thailand and sell its Rayong plant to Great Wall Motors (GWM) by the end of this year.

(more…)

Continue Reading

Banking

Governments most exposed to coronavirus have strong fiscal and external buffers

Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.

Boris Sullivan

Published

on

As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.

(more…)

Continue Reading

China

In China, an Unprecedented Economic Transformation

China has been undergoing an economic transformation unlike any other on the planet through an Industrial Revolution, urbanization, and an information age o experiencing all three simultaneously.

Avatar

Published

on

HONG KONG, Dec 19, 2019 – (ACN Newswire) – Lei Zhang’ 02 is investing in Chinese companies during an extraordinary moment in history, he told students at Yale SOM.

(more…)

Continue Reading

Must Read

Upcoming Events

Mar 11

Food science conferences

March 11 @ 8:00 am - March 12 @ 5:00 pm BMT
Mar 11

Food science conferences

March 11 @ 9:00 am - March 12 @ 5:00 pm BMT
Mar 22

41st World Dental Science and Oral Health Congress

March 22 @ 9:30 am - March 23 @ 5:00 pm BMT
Mar 26

8th Anti-Corruption Compliance Asia Pacific Summit 2020

March 26 @ 9:00 am - March 27 @ 5:30 pm SMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,189 other subscribers

Trending