Thai rice exports get a boost from global Covid-19 scare

[rooster59]

Thai rice exports get a boost from global Covid-19 scare

By THE NATION

 

 

The Covid-19 situation has led to many countries stocking up on food supplies, boosting orders for Thai rice, Chookiat Ophaswongse, president of the Thai Rice Exporters Association, said.

 

 

“These importers want our exporters to be ready to deliver 100 per cent of the order quantity immediately,” he said.

 

“Previously, the importers preferred delivery of 50 per cent of the order, such as 50 per cent in March and the rest in April.”

 

The spurt in demand has been a boon for rice producing countries, and also increased the rice price in the global market.

 

White rice 5 per cent exported by Myanmar is currently selling at $400 per tonne, up from the previous range of $330 to $340 per tonne.

 

Meanwhile, the price of rice exported from Thailand rose from $410 per tonne to $450 to $460 per tonne.

 

Due to the recent rise in demand, Thailand’s rice exports in February were estimated at 630,000 tonnes.

 

“The growth of rice exports at this time depends on the Covid-19 situation. If the situation recovers, the rice orders will decrease,” the president said.

“Another related factor is export of rice by China,” he added. “The country would suspend its exports to reserve stocks for its own food security.”

 

Overall Thailand’s rice exports this year would be near the targeted 7.5 million tonnes, he said.

 

Source: https://www.nationthailand.com/news/30384098

 

-- © Copyright The Nation Thailand 2020-03-15

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[Tayaout]

Teflon Thailand ❤️

[saengd]

There's always an upside to these things, export levels may not be that bad after all.

[Tug]

We certainly added our 2 bits worth the wife was shopping like a little honey badger getting a large supply ready if we need to hole up for a while bless her heart 

[whiteman]

stocked up weeks go

[Grumpy John]

Cheese is all we need to buy now.  I said to the wife "Why you no buy red lice?"  Her reply was "There is 2kg in the cupboard,  that's a year's supply! "  Good to know!  ????

[zydeco]

The worldwide pandemic actually is good for Thailand! Who would have guessed!

[Isaan sailor]

Wife had a pretty good year from rice farms.  Might sell a bit more.  It’s the one thing we have plenty of...

[Venom]

Be grateful if they leave enough to feed the locals! 

[Iron Tongue]

This is very true as there has been a global run on basic staples, shops are empty from panic buying.

 

I hope Thailand enjoys this bounty because it's temporary.  As soon as covid-19 "breaks" many months from now, people are going to be wondering how they're going the eat that 100kgs of rice they've hoarded.

[RubbaJohnny]

Thousands dying but Thailand manages to cash in , who'd have believed it , be almost like hoarding gel and masks to resell at profit.

[whiteman]

My wife tells me the rice they are selling is old rice which was stock piled from last year harvest.

 

This years rice quota has been hit badly because of no rain.

[BeltAndRoad]

3 hours ago, Iron Tongue said:

This is very true as there has been a global run on basic staples, shops are empty from panic buying.

 

I hope Thailand enjoys this bounty because it's temporary.  As soon as covid-19 "breaks" many months from now, people are going to be wondering how they're going the eat that 100kgs of rice they've hoarded.

According to the doomsday promoters, we will all be dead well before then.

[happy chappie]

Yes but this virus don't make you eat more.they seem to forget people will be over stocked on rice for the foreseeable future and won't need to buy for a very long time and sales will drop dramatically.