Trade
Thailand should remain biggest rice exporter in 2011
The Commerce Ministry projected Thailand’s volume of rice exports will reach 9-9.5 million tonnes this year, believing the country can retain its rank as the largest rice exporter in the world market, Commerce Minister Pornthiva Nakasai said on Friday.
The Commerce Ministry projected Thailand’s volume of rice exports will reach 9-9.5 million tonnes this year, believing the country can retain its rank as the largest rice exporter in the world market, Commerce Minister Pornthiva Nakasai said on Friday.
Targeted high volume was attributed to more purchasing power from consumers in the world market, well-accepted quality of Thai rice among global trading partners and market expansion strategies to boost more rice exports as well as strategies to maintain major markets, Ms Pornthiva explained. These factors will enhance Thailand to remain the world’s leading rice exporter.
Rice exports in 2011 were expected to reach US$5.3-5.6 million, the minister said.
Meanwhile, rice prices in the world market in 2011 are projected to increase by five per cent compared to 2010 in line with market mechanism.
In 2011, the ministry will focus on additional exports of parboiled rice, accounting for 50 per cent of all exported rice, up 10 per cent from last year as the major market is mainly in Africa, which imported about 15-16 per cent of Thailand’s rice exports.
The ministry saw Thailand has potential to produce this parboiled rice which currently remains in low competition.
via Commerce Ministry confident Thailand to remain world’s top rice exporter in 2011.
BANGKOK (NNT) – The Commerce Ministry has launched measures to increase rice exports to 6 million tons this year, valued at around 150 billion baht, with Indonesia, China, Bangladesh and Iraq set to be the main markets under government-to-government (G2G) deals.
Singapore
UK exporters’ use of Singapore as ASEAN’s supply chain gateway boosted by new bilateral trade agreement
Singapore’s role as a hub for UK companies, whether as exporters or investors accessing Southeast Asia’s and broader Asian dynamic economies, was elevated by the new UK-Singapore trade agreement (UKSTA) which came into effect on 1st January 2021.
There was much controversy, before and after the United Kingdom’s (UK) Brexit from the European Union (EU), in talk of it adopting a free trade and manufacturing model similar to Singapore’s.
BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.
Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.
According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.
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