Strong Baht May Drag Down Thailand's Rice Exports

[webfact]

Strong baht may drag down Thailand's rice exports
By Digital Media



BANGKOK, May 16 – Thailand is unlikely to re-emerge as the world’s top exporter of rice given its current high prices and the strengthening baht, a leading rice exporter said today.

Kobsuk Iemsuree, chairwoman of the Thai Rice Exporters Association, said the appreciating baht has put Thai exporters in a grim situation as Thailand mainly exports premium rice while foreign consumers prefer rice at cheaper prices.

Thailand may not achieve this year’s export target of six million tonnes despite an earlier adjustment from the original target of 6.5 million tonnes, she said.

She said the rice export volume should surge in Q3 and surpass the combined Q1 and Q2 volumes due to depleting stocks among importing countries like Japan, Iraq, Iran and varied African nations.

Thai exporters would like government-to-government rice deals, but they accept the fact that Thailand’s heyday on top of the rice market will not return.

The Commerce Ministry is sponsoring the Thailand Rice Convention 2013 in Chiang Mai from May 26 through 28 where rice dealers and officials from 40 countries will meet to exchange views on rice development and the global rice industry.

More than 500 rice dealers will contract business during the convention, which is aimed at pushing the Association of Southeast Asian Nations (ASEAN) towards a role as the world’s rice hub, said Commerce Minister Boonsong Teriyapirom. (MCOT online news)


-- TNA 2013-05-16

[Tatsujin]

Strong baht may drag down Thailand's rice exports

No xxxx Sherlock I'm so pleased the countries in such capable hands.

Edited May 16, 2013 by metisdead

[skills32]

More than 500 rice dealers will contract business during the convention,
which is aimed at pushing the Association of Southeast Asian Nations
(ASEAN) towards a role as the world’s rice hub

There is that word again.

[Neilly]

Strong baht may drag down Thailand's rice exports

How come they didn't mention the overinflated price of the rice due to the pledging scam scheme

[whybother]

Strong baht may drag down Thailand's rice exports

How come they didn't mention the overinflated price of the rice due to the pledging scam scheme

" given its current high prices and the strengthening baht,"

[DLock]

Convenient.

Very convenient.

[Thai at Heart]

Obviously nothing to do with overpaying up front, and being unable to dump it down to the process in which the "subsidy" pricing was paid.

[fakename]

Thailand made a choice, so now the idea is to sell expensive, low grade rice, so where can such buyers be found? You would think that as a top world rice exporter, the government would know you cant sell old rice, for the price of new.

[Payboy]

Thailand mainly exports premium rice while foreign consumers prefer rice at cheaper prices

Premium, as in with weevils.

[bigbamboo]

The 'heyday' of Thailand being the world's top rice producer lasted decades! That has now been well and truly screwed thanks to a certain individual who had no personal stake and bugger all expertise in the rice business but still had the hubris to think he knew best. And worse still his sychophantic followers allowed him to do it.

It's a national tragedy .

Edited May 16, 2013 by bigbamboo

[ramrod711]

Thai exporters would like government-to-government rice deals, but they accept the fact that Thailand’s heyday on top of the rice market will not return.

How can this be? The government spared no expense or effort to research the effects of the rice pledging scheme........didn't they?

[khunken]

The problem is avoiding loss of face. They couldn't sell the rice last year, before the Baht surged, because the price was too high.

The government can sell the rice if they place a competitive price on it, but they won't because the loss would be visible. G-t-G deals hide the loss making but false claims of G-t-G deals expose them to lying - which they are happy to do daily.

[jalansanitwong]

Poor quality rice will also drag down the price and they're certainly dumping that stuff on the domestic market.

I was at Bangkae market on tuesday and was casually looking at all the sacks of product of Thailand rice. A Thai man approached me and said ..."not from Vietnam." i didnt say it was ... LOL.

I bet it is ! errr rice pledge pay 7000 b /tonne Vietnam ... export and rebag in thailand sell 15,000 b/tonne.

[wiyada]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

[vijer]

More than 500 rice dealers will contract business during the convention,

which is aimed at pushing the Association of Southeast Asian Nations

(ASEAN) towards a role as the world’s rice hub

There is that word again.

Which word are you refering to. rice, pushing, business, role?

[Thaddeus]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

Rat a two ee.

(yeah, the cloakroom is over there)

Edited May 16, 2013 by Thaddeus

[chiangmaikelly]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

[moe666]

I am suprised that there is still 500 rice traders left in Thailand as the government has become the largest owner of rice and they hand pick the traders they want to sale the pledged rice. This government has destroyed rice industry in Thailand

[GentlemanJim]

Thailand mainly exports premium rice while foreign consumers prefer rice at cheaper prices

Premium, as in with weevils.

So THAT'S why the Government have just announced that Thai's should be encouraged to eat insects for the protein..........I get it now. Thai rice, carbs and protein all in one, now there is a USP.

I see that they have picked a 'safe place' to hold the convention....the seat of the Shinawatra clan. Why not Bangkok? Don't say it's too far to travel, the red farmers apparently travel there by the hundred thousand for free just to attend a protest.

Edited May 16, 2013 by GentlemanJim

[GentlemanJim]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

I am currently trying to find out if anyone bearing the name 'Kelly' is involved in organizing the Thailand rice convention in Changmai. I can consider no other reason why anyone would reply in such a serious humourless fashion to the comment. Take your own advice, if a comment is made with humour and you cannot reply with humour, then 'you should not post it' !

[stateless]

Notice the fact that most govt sponsored intl conferences about their controversial populist policies are in Chiangmai like the Water conference. Any hidden reasons why?

[Robby nz]

From what I read about the Ivory Coast having to dump almost 20% of the 38,000 tons it said it bought in a G to G deal for a competitive price the govt will be unlikely to get that country back as a repeat customer.

Could be that other countries have heard about that deal and are seriously looking elsewhere for a quality product.

[chiangmaikelly]

I am suprised that there is still 500 rice traders left in Thailand as the government has become the largest owner of rice and they hand pick the traders they want to sale the pledged rice. This government has destroyed rice industry in Thailand

Despite sluggish global demand and reduced competitiveness, the

Commerce Ministry is confident Thailand will be able to export 8.5

million tonnes of rice this year, generating US$5.7 billion (Bt169.4

billion) - 20 per cent higher than was achieved last year. ... http://www.thairiceexporters.or.th/rice_news_eng.htm

[chiangmaikelly]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

I am currently trying to find out if anyone bearing the name 'Kelly' is involved in organizing the Thailand rice convention in Changmai. I can consider no other reason why anyone would reply in such a serious humourless fashion to the comment. Take your own advice, if a comment is made with humour and you cannot reply with humour, then 'you should not post it' !

Rats in food is your idea of humour?

[khunken]

I am suprised that there is still 500 rice traders left in Thailand as the government has become the largest owner of rice and they hand pick the traders they want to sale the pledged rice. This government has destroyed rice industry in Thailand

Despite sluggish global demand and reduced competitiveness, the

Commerce Ministry is confident Thailand will be able to export 8.5

million tonnes of rice this year, generating US$5.7 billion (Bt169.4

billion) - 20 per cent higher than was achieved last year. ... http://www.thairiceexporters.or.th/rice_news_eng.htm

Two points:

Thai rice exports last year were at an all-time low so it is possible that they may be able to do a bit better.

As for the Commerce Ministry being 'confident', this should be taken with a dollop of salt as they were the ones who lied about previous G-t-G 'deals'. When they are open and transparent about their 'deals' they might have some credibility.

[khunken]

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

I am currently trying to find out if anyone bearing the name 'Kelly' is involved in organizing the Thailand rice convention in Changmai. I can consider no other reason why anyone would reply in such a serious humourless fashion to the comment. Take your own advice, if a comment is made with humour and you cannot reply with humour, then 'you should not post it' !

Rats in food is your idea of humour?

It was sarcasm which is quite acceptable on this forum.

By the way, Thais eat field rats & mice.

[ray23]

It's already lost it's place as number one a stronger baht isn't going to help by any means. All they do is talk about it, no real action taken. So they must not really care. I have followed the baht for years now. It slowed down last week since there was strong talk doing something about. Appreciation slowed, now again no action so yes the baht will hurt rice exports.

[chiangmaikelly]

Rats in food is your idea of humour?

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

It was sarcasm which is quite acceptable on this forum.

By the way, Thais eat field rats & mice.

Diseases such as leptospirosis and typhus are transmitted through rat

urine, fleas, and mites. In 2001 in northeast Thailand, over 14,000

people were infected with leptospirosis resulting in about 360 deaths.

http://www.irri.org/index.php?option=com_k2&view=item&id=7576〈=en

[Pakaty]

Have I seen this headline every year for the past 7 years??? Hmm...must be Déjà vu. It wouldn't be the first time.

[hellodolly]

Rats in food is your idea of humour?

Thai rice should be sold at a premium, it has meat added ( rice n rodents ) full off protein

If you have a source for this you should quote it. If not you should not post it.

It was sarcasm which is quite acceptable on this forum.

By the way, Thais eat field rats & mice.

Yes and they eat bugs also. The government is now urging people to eat bugs.

Some people have no idea of what Thailand is about out side of the tourist and sex area's.