Thailand to bid for rice exports to the Philippines

 

 

BANGKOK: -- Thailand will participate in an international biddings this month and next to supply rice to the Philippines which reportedly plans to import up to one million tonnes of rice to prevent rice shortage in the country.

 

An informed source in the Commerce Ministry said that the Food Safety Committee of the Philippines, at its recent meeting, planned to import 750,000 tonnes of rice under government-to-government deals plus another 250,000 tonnes through private deals.

 

The source noted that the biddings would provide a good opportunity for Thailand to release rice from its huge stockpiles.

 

During the first half of this year, Thailand exported 148,000 tonnes of rice to the Philippines at an estimated 1,878 million baht, representing a 64.9 percent drop in quantity and 64.2 percent decline in value.

 

However, Thailand will have to face its arch rival, Vietnam, which also aims to clinch rice deals with the Philippines.

 

As for the local bidding of 750,000 tonnes of leftover rice stocks, 20 potential buyers have passed the qualifications test but only 13 of them submitted sealed bids for this lot estimated at 7,000 million baht.

 

Source: http://englishnews.thaipbs.or.th/thailand-bid-rice-exports-philippines/

 

-- © Copyright Thai PBS 2016-08-30

Prayut was paying Bt8,000-Bt9,000 per tonne of paddy to prop up rice prices for the rice harvest since February 2016. So it will be interesting to see what the winning bid price is for sale to the Philippines.

...I think The Philippines has more sense....and better options....