Min of Commerce to deliver second batch of rice to China

 

BANGKOK, 13 February 2017 (NNT) - The Ministry of Commerce is preparing to deliver its second batch of rice to the Chinese government. 

Minister of Commerce Apiradi Tantraporn revealed that the government-to-government rice deal between Thailand and China will see a total of 1 million tons of rice being traded, with delivery in rounds of 100,000 tons and according to the market price at the time of each shipment. Most recently, China's state-owned food processing holding company COFCO Group has agreed to purchase the second batch at 386 US dollars for a 25-kilogram container and 391 dollars for a 50-kilogram container. 

Thailand’s Department of Foreign Trade is prepared to deliver the shipment by March this year. Apridadi said the rice deal yielded a satisfactory sale price compared to Thailand’s competitors such as Vietnam, while the volume of orders from the entire deal will ensure that this year’s supply of rice would be accommodated by the market.

 

-- nnt 2017-02-13

7 hours ago, webfact said:

Most recently, China's state-owned food processing holding company COFCO Group has agreed to purchase the second batch at 386 US dollars for a 25-kilogram container and 391 dollars for a 50-kilogram container. 

Pricing always seems to me difficult to understand. How does this sale to China compare to the sale to The Philippines in September 2016 for 100,000 tons at $424.85 per ton?

http://www.nationmultimedia.com/business/Thailand-wins-bid-to-export-rice-to-Philippines-30294238.html

 

1 hour ago, Srikcir said:

Pricing always seems to me difficult to understand. How does this sale to China compare to the sale to The Philippines in September 2016 for 100,000 tons at $424.85 per ton?

http://www.nationmultimedia.com/business/Thailand-wins-bid-to-export-rice-to-Philippines-30294238.html

 

Yes it is confusing but I think on this sale the price is more related to the price of the dead weight per kilogram of a Chinese submarine. 

1 hour ago, Brer Fox said:

Yes it is confusing but I think on this sale the price is more related to the price of the dead weight per kilogram of a Chinese submarine. 

 

Why break the rice bowl when you can simply hand it over?

well that should top up the treasury reserves quite nicely..... almost enough to buy a submarine?

An open  trade. Comparisons  of  one  against   another  without  consideration  of exchange  variation in currency,  current/daily etc trade price,  purchase  necessity, offset trade negotiation factors should  be  considerd...

It is  an export  sale that is at least  in terms  of  reality for  Thailand  instead  of a  few individuals . 

2 hours ago, bangon04 said:

well that should top up the treasury reserves quite nicely..... almost enough to buy a submarine?

 

Yup...that would be the SSN Kin Khao.