Surge seen in jasmine rice exports to Hong Kong

[webfact]

Surge seen in jasmine rice exports to Hong Kong

By THE NATION

 

Somdet Susomboon

 

Thai jasmine rice exports to Hong Kong are poised for a big jump due to scarcity in the supermarkets and retail stores there after the new coronavirus outbreak, Somdet Susomboon, Department of International Trade Promotion (DITP) director-general, said.

 

“The shortage of rice and medical masks in the country has caused people to hoard because of the coronavirus,” he explained.

 

Somdet also said that the trade promotion office in Hong Kong and Thai exporters have had discussions with rice importers in Hong Kong about the demand for rice.

 

“There is huge demand from Hongkongers, and the office has assured that they will order more from Thailand, as China’s exports have fallen,” he added.

 

Source: https://www.nationthailand.com/news/30381885?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-02-10

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[DrTuner]

Newsflash: people that have hoarded already have stock. They won't be buying more.

[unamazedloso]

whoopdy doo.... So Thailands economic outlook is rozy now then i guess considering the need to run this feel good story. Phew.. what a relief.

[Srikcir]

5 hours ago, webfact said:

“There is huge demand from Hongkongers, and the office has assured that they will order more from Thailand,

But at what price?

Thailand isn't the only source for rice favored by Hong Kong people.

Nov. 2019 - https://www.scmp.com/week-asia/politics/article/3037976/hong-kong-protests-cheap-chinese-rivals-why-thai-rice-crisis

• “Thai premium white rice caters mainly to Hong Kong’s tourism sector,” said Charoen Laothamatas, president of the Thai Rice Exporters Association (TREA). “But we have seen fewer shipments to Hong Kong in recent months as there is lower demand from restaurants and hotels.”
• Thailand rice exports have been left exposed to stiff competition from large producers such as India, Vietnam and China.
• India’s development of hybrid fragrant rice and Vietnam’s research into soft white rice for export had seen Thailand’s jasmine rice lose its charm among international buyers; “Vietnam has lower costs and the country’s currency is under control”

[yokat]

Once everybody has some rice stocked up it will tank and stay low until they consume their stock.

Edited February 10, 2020 by yokat

[Iron Tongue]

8 hours ago, Srikcir said:

“Thai premium white rice caters mainly to Hong Kong’s tourism sector,” said Charoen Laothamatas, president of the Thai Rice Exporters Association (TREA). “But we have seen fewer shipments to Hong Kong in recent months as there is lower demand from restaurants and hotels.”

More rice for tourists?  -What tourists?  They have their own problems due to violent protests and coronavirus worries.