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.
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.
How the COVID-19 situation may affect Thailand’s export sector
Thailand’s export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six months.
The Thai National Shippers’ Council has raised a concern that the export sector might face a 200-300 billion baht toll should the COVID-19 situation not be brought under control in six months, urging the government to speed up the vaccine rollout to all segments of the population.(more…)
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