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Commerce Ministry aims to export 10m tons of Thai rice in 2019

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Commerce Ministry aims to export 10m tons of Thai rice in 2019

 

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BANGKOK (NNT) - Rice is important to Thailand in many respects, including for the economy, society, culture, environment and food security. It is the main economic crop as well as an important export product of Thailand. Each year, Thailand exports an average of 10 million tons of rice to markets worldwide, generating more than 150 billion baht in revenue, making Thailand the world’s top rice exporter.

 

Nowadays, the way of life and consumption habits of rice consumers worldwide is changing. Therefore, it is necessary for Thailand to adjust and develop the rice production process to meet the needs of various consumer groups to make Thailand a sustainable food source for the world in the future, which will benefit Thai people and the world community.

 

Commerce Ministry Permanent Secretary Bunyarit Kallayanamit says that the Ministry of Commerce still maintains a target of 10 million tons of rice exports this year. The export value is projected to be close to 180 billion baht. The Ministry of Commerce has maintained its rice export forecast because it believes that the trade war between the United States and China does not affect the demand for rice and the El Nio phenomenon that affects many countries is likely to increase Thai rice prices.

 

From discussions with farmers, it was found that farmers are satisfied with rice prices. Every government has placed importance on rice because it is the main agricultural product of the country and Thailand has about four million rice farming households.

 

Meanwhile, in the second half of this year, the Department of Foreign Trade plans to stimulate the sale of rice by assigning a trade delegation, from both the public and private sectors, to conduct trade negotiations with important partner countries in order to expand markets as well as to encourage the private sector to find the markets itself, especially new markets. Mr. Bunyarit expressed his confidence that Thailand will certainly be able to export 10 million tons of rice this year.

 

 

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-- © Copyright nnt 2019-06-06
16 minutes ago, webfact said:

generating more than 150 billion baht in revenue, making Thailand the world’s top rice exporter.

This is great news for the trough of Thailand Inc. The new CEO will be delighted as will the 19 party coalition!

"making Thailand the world’s top rice exporter."

 

Maybe India, which appears to export about 30% more rice in $ terms than Thailand would disagree with that statement.

 

http://www.worldstopexports.com/rice-exports-country/

 

 

1. India $7.4 billion 30.1%
2. Thailand $5.6 billion 22.7%
3. Vietnam $2.2 billion 9%
4. Pakistan $2 billion 8.2%
5. United States $1.7 billion 6.9%
6. China $887.3 million 3.6%
7. Italy $614.1 million 2.5%
8. Brazil $467.9 million 1.9%
9. Uruguay $400.2 million 1.6%
10. Cambodia $375.2 million 1.5%

Edited by davehowden
Typo

2 hours ago, webfact said:

Commerce Ministry aims to export 10m tons of Thai rice in 2019

"Aims to": Aiming is great. Doing is greater.

Edited by blackcab
Removed oversized font

1 hour ago, webfact said:

Department of Foreign Trade plans to stimulate the sale of rice by assigning a trade delegation

I've got a better idea. Why does not the government buy the rice and keep it in store until the price goes up.

What do they image all the other major rice growing competitors will be doing, sitting on their hands. Thailand's quality might be up at the top but they will be trumped on price.

Up here in the North they are 'adjusting' by filling Paddy's with dirt infil at a record rate and they are 'developing' huge amounts of concrete in the shape of Houses, Shop Houses galore and Industrial Buildings that maybe one day might see some use !     Give it 20-30 years and this country will be importing rice as they will discover that you can't eat concrete !

7 hours ago, webfact said:

From discussions with farmers, it was found that farmers are satisfied with rice prices.

I got the exact opposite impression last time I talked about this with the Isaan family.

5 hours ago, webfact said:

Commerce Ministry aims to export 10m tons of Thai rice in 2019

To what purpose other than national pride to rank #1 in rice exports?

Govt optimistic on rice prices but experts not sure of sustainability (November 09, 2018)

https://www.nationmultimedia.com/detail/Economy/30358206

  • Viroj na Ranong, an economist at the Thailand Development Research Institute - the global market for Hom Mali rice is small and the price could swing widely when supply changes a bit, he said. He did not think farmers, most of them in the Northeast, would benefit much from the rise in the Hom Mali price, as they are small landholding farmers. The rice market is very competitive as many countries can grow this staple crop, and Thai farmers.

What happened to this "memo"?

Thai rice exports to fall 14 percent in 2019 (January 30, 2019)

https://english.kontan.co.id/news/thai-rice-exports-to-fall-14-percent-in-2019

  • Thailand's rice exports are expected to fall 14 percent in 2019 to 9.5 million tonnes as a stronger currency makes shipments more expensive for overseas buyers
  • "Our competitiveness is lower, but our production remains the same," - Chookiat Ophaswongse honourary president of the Thai Rice Exporters Association
  • "Our competitors are getting stronger while we're regressing ... It gets worse every year as long as we don't have a long-term strategy for not just rice but also other agricultural products," - Choot
  • "The government should help weaken the baht. This is something that can be done immediately." - Choot

So why the new target of a half a million tons of MORE rice exports?

You sell more rice but lose more profit.

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