Connect with us

Economics

Government Will Sign MoU on Rice Sale with Indonesia

Published

on

logomain

BANGKOK (NNT) – The government will sign a memorandum of understanding (MoU) to sell as much as one million tons of rice a year in a government-to-government (G2G) deal with Indonesia late this month.

According to Commerce Minister Jurin Laksanawisit, the MoU signing will be organized in the final week of March, covering no more than one million tons of 15% to 25% white rice a year for four years.

However, the rice sales also include conditions, depending on the rice production of the two countries and the world rice price.

Over the past five years, no G2G rice deals between Thailand and Indonesia were carried out, as the Indonesian government initiated a self-sufficiency policy with regard to rice and promoted domestic rice production.

Nonetheless, Indonesia has still faced a shortage of domestic rice supplies in some years due to natural disasters. The pandemic also prompted Indonesia to import more rice to serve domestic demand and to stabilize domestic rice prices.

Source link

Click to comment

Leave a Reply

Economics

Thailand’s economic growth expected to return to 2019 levels in mid-2023

Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.

Published

on

The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.

(more…)
Continue Reading

Economics

World Bank cuts Thailand’s GDP growth outlook to 1% in 2021

The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.

Published

on

The World Bank has said that Thailand’s economy is forecast to grow 1% this year, down from the 2.2% projected in July, hit by a spike in COVID-19 cases and a delayed reopening to visitors.

(more…)
Continue Reading