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Strong baht to drag further down Thailand’s rice exports

Thailand is unlikely to re-emerge as the world’s top exporter of rice given its current high prices and the strengthening baht, a leading rice exporter said today

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Thailand is unlikely to re-emerge as the world’s top exporter of rice given its current high prices and the strengthening baht, a leading rice exporter said today.   Kobsuk Iemsuree, chairwoman of the Thai Rice Exporters Association, said the appreciating baht has put Thai exporters in a grim situation.

Thailand may not achieve this year’s export target of six million tonnes despite an earlier adjustment from the original target of 6.5 million tonnes, she said.   She said the rice export volume should surge in Q3 and surpass the combined Q1 and Q2 volumes due to depleting stocks among importing countries like Japan, Iraq, Iran and varied African nations.

Thailand mainly exports premium rice while foreign consumers prefer rice at cheaper prices.

rice-flow

Thailand mainly exports premium rice while foreign consumers prefer rice at cheaper prices.

Thai exporters would like government-to-government rice deals, but they accept the fact that Thailand’s heyday on top of the rice market will not return.

The Commerce Ministry is sponsoring the Thailand Rice Convention 2013 in Chiang Mai from May 26 through 28 where rice dealers and officials from 40 countries will meet to exchange views on rice development and the global rice industry.   More than 500 rice dealers will contract business during the convention, which is aimed at pushing the Association of Southeast Asian Nations (ASEAN) towards a role as the world’s rice hub, said Commerce Minister Boonsong Teriyapirom. (MCOT online news)
Strong baht may drag down Thailand’s rice exports | MCOT.net | MCOT.net

The Commerce Ministry is ready to play host to the 6th Thailand Rice Convention 2013 (TRC 2013), which will be held in Chiang Mai later this month.

Commerce Minister Boonsong Teriyapirom said on Wednesday that the Commerce Ministry’s Department of Foreign Trade has been working on the preparation of the TRC 2013, which will see the participation of more than 500 representatives from foreign governments, rice importers, academics and experts from 40 countries.

Mr. Boonsong stated that the upcoming international event will help Thailand showcase its leadership in the rice export sector while the gathering will enable all related parties to exchange information and ideas about the development of the world rice industry.

In addition, the event will be the venue for rice business entrepreneurs and exporters to meet and discuss trade deals.

The Commerce Minister added that the TRC 2013 will convince the international community about Thailand’s readiness to be the rice production and trade hub, both at ASEAN and global levels.

The 6th Thailand Rice Convention 2013 will be held at the International Convention and Exhibition Centre Commemorating His Majesty’s 7th Cycle Birthday Anniversary in Chiang Mai, from May 26 to 28.

Source: National News Bureau & Public Relations

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