Thailand Signs Major Rice Export Agreement with the Philippines

[snoop1130]

 

Thailand has entered into nine agreements to export over 130,000 metric tons of rice to the Philippines, which is estimated to be worth more than 2.8 billion baht.

 

The Department of Foreign Trade’s Director-General, Ronnarong Phoolpipat, led the team of Thai rice exporters. This move is anticipated to raise Thailand's proportion of the rice market in the Philippines. Ronnarong stressed that the Philippines is expected to import around 4.1 million tons of rice in 2024.

 

The Thai team, which included Jaroen Laothamatas, the Thai Rice Exporters Association's president, visited the Philippines from July 3-5, 2024. They were there to reinforce trade ties and finalize agreements with Filipino rice importers.

 

 

Aside from these agreements, the Department of Foreign Trade, with help from the Thai Trade Office in Manila, hosted a promotional event at Mango Tree Manila, a Thai SELECT certified restaurant. The event, titled “Premium Thai Rice with Authentic Thai Food”, had over 70 attendees, including importers, retailers, government officials, and influencers. The occasion featured cooking demos of Thai meals using Thai rice, showcasing the distinct taste and high quality of Thai varieties like Jasmine and Riceberry.

 

The Department of Foreign Trade also discussed with the National Food Authority (NFA) in the Philippines the current market conditions and the potential decrease of rice import duties from 35% down to 15%. This would be in effect from mid-July 2024 until the end of 2028. Talks also covered legislative changes to allow the NFA to import rice during emergencies, demonstrating Thailand's willingness to assist with the Philippines' food security.

 

The visit was declared a great success, showing the strong reputation of Thai rice for its quality and variety. In the first half of 2024, Thailand exported approximately 300,000 tons of rice to the Philippines. This represents a 381.66% increase from the same period the prior year, valued at roughly 5.97 billion baht, marking a rise of 558.97% in value.

 

File photo for reference only

 

-- 2024-07-12

 

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[hotchilli]

I hope the Philippines check what they're going to receive... there is some old rice knocking about looking for a new home.

[Will B Good]

11 minutes ago, hotchilli said:

I hope the Philippines check what they're going to receive... there is some old rice knocking about looking for a new home.

Just thinking the same.....salt the old stuff away...say 5% in each load?

[john donson]

do they not grow rice in PH?  local farmers will suffer not being able to sell theirs...

 

but some dudes get mega rich from these kind of deals...

[jippytum]

Hope its the good quality rice not the Yingluck variety. 

[IndomitableSpirit]

8 hours ago, john donson said:

do they not grow rice in PH?  local farmers will suffer not being able to sell theirs...

 

but some dudes get mega rich from these kind of deals...

There are locally grown rice. The "Thai rice" is expensive for general consumers. Only the rich and upper middle class can afford it. The locally grown is already deemed expensive, so what more the Thai rice. I'm currently in the Philippines and people have been complaining about prices of rice/kg.