Thailand signed agreements to export 100,000 tonnes of Hom Mali fragrant rice worth Bt33 billion to Hong Kong in an apparent attempt to salvage its dipping market share in the Chinese special administrative region.
Commerce Minister Boonsong Teriyapirom witnessed the signing of nine memorandums of understanding to export Thai Hom Mali rice to Hong Kong at an average price of US$1,100 per tonne. He said Thailand will specially focus on promoting Thai rice in the Hong Kong market after losing the leading export position to Vietnam in the last two years. Thailand’s exports to Hong Kong of 200,000 tonnes a year has declined to 160,000-170,000 tonnes.
Citing overseas marketing promotion as its priority, Mr Boonsong said the government has allocated a budget to stimulate retail sales which represent 50 per cent of the total rice market. Promotions at major supermarkets and distribution of rice samples are some of the marketing measures being considered. The commerce minister expressed confidence that the government’s marketing activities will revive Thailand’s rice exports to Hong Kong by 60,000-70,000 tonnes, after which marketing campaigns will be launched in Singapore.
Vuthipol Wanglee, deputy manager of Chaithip Co—one of Thailand’s major rice exporters, said the government will need to focus on marketing promotion and activities if it wants to retain the present export prices, adding that Thailand’s market share in Hong Kong has fallen from 90 per cent to 50 per cent. Cambodia has absorbed Thailand’s lost share of fragrant rice sales in the Hong Kong market, he said. MCOT online news
Thai Mango growers complain of low prices and fewer exports
Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.
Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.(more…)
Covid-19 and food security: can emerging economies mitigate rising prices?
The Food Price Index, established by the UN’s Food and Agriculture Organisation (FAO) to track monthly changes in international food prices, rose for the eighth consecutive month in January, primarily as a result of Covid-19.
An increase in food prices following the coronavirus pandemic has intensified concerns related to global food security. For emerging markets, this has further underlined the importance of regional cooperation and innovative solutions to help overcome the challenges.(more…)
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