Thailand reclaims its place as the world’s largest rice exporter

Thailand has finally managed to become the world’s largest rice exporter once again, exporting more than 10 million tons so far this year.
Commerce Minister General Chatchai Sarikalaya said the country is also trying to win back its place as the world’s largest jasmine rice exporter after losing the title to Hong Kong. He added that the stockpiled rice would be sold or exported as quickly as possible as grains are perishable goods.
General Chatchai said the inspection of rice in stock nationwide has been completed. Out of the 17 million tons of rice, only 10 percent are in good condition. The rest are of lower-than-standard quality including 14 million tons which have turned yellow and 700,000 tons which have begun to deteriorate. Authorities are now investigating how another number of 200,000 tons has gone missing.
The Ministry of Commerce will ask the Rice Policy Committee to consider more channels to release the rice in stock. It is expected that 400,000 tons of rice will be released within this month. (NNT)

Transport ministry expediting train projects

The Ministry of Transport is expediting the delayed orange line electric train project while preparing to sign a dual track rail contract with China.
Minister of Transport ACM Prachin Chantong said the ministry had planned to push for the delayed electric train project and would request the Cabinet to approve it in January 2015. The ministry would also urgently implement three other electric train projects including the Green Line (Mo Chit-Saphan Mai-Ku Khot), Yellow Line (Lat Phrao-Bang Kapi-Samrong) and Pink Line (Khae Rai-Min Buri). They would be submitted to the Cabinet for consideration mid 2015, said the minister.
As for the dual track rail project, the minister said Thailand and China would sign the contract this year during the Chinese prime minister’s visit to Thailand on 25 December or the Thai premier’s trip to China. The ministry was consulting with the Securities and Exchange Commission (SEC) about an infrastructure fund for the project, he added. (NNT)

UK ambassador discusses investment with Thai deputy PM

The British Ambassador to Thailand has met with the Thai deputy Prime Minister on economics to discuss Thailand’s ability to support investments, reports a Thai official.
The British Ambassador to Thailand, H.E. Mark Kent met with the deputy prime minister on economics M.R. Pridiyathorn Devakula at Government House to discuss economic matters.
The Thai deputy prime minister said that the two sides discussed investment potential in Thailand, especially the progress of the digital economy project, as well as the overall economic status of Thailand, without discussing the political situation.
He mentioned the rubber price issue that was troubling southern rubber farmers, saying that the government has been working to stimulate rubber prices since October. However, each stimulus measure involves many procedures and requires some time to take effect.
Regarding the request from rubber farmers to raise the rubber price to 80 baht per kilogram, the deputy prime minister said that the price raising process is underway and each step will take some time. He also stressed that the government is sincere about solving the issue.
The deputy prime minister also set an estimate of the national Gross Domestic Product (GDP) for the first quarter of the 2015 fiscal year at a 3 percent expansion.
The upcoming economic stimulus measures from the government, and the distribution of the fiscal budget, will likely have a positive impact to the economy between December 2014 to February 2015, said the deputy prime minister. (NNT)

Thai Assembly passes Thailand-China MoU on dual rail development

Thailand’s National Legislative Assembly (NLA) has approved the Thai-Chinese Memorandum of Understanding (MoU) agreeing to double track development in Thailand from 2015 to 2022. China will be responsible for construction and system development.
Transport Minister Prajin Juntong told the assembly that the Chinese government would help develop the first double track project using standard gauge in Thailand.
The project comprises two routes: 734 kilometers from Nong Khai via Nakhon Ratchasima and Kaeng Khoi to the Maptaput port and 133 km from Kaeng Khoi to Bangkok.
The minister said that the project would offer long-term benefits to people and facilitate connections between China and ASEAN member states.
He said that under the memorandum, China would be responsible for the construction and system development and finance the project.
Repayment details have yet to be discussed.
Construction is expected to start in 2016 and the memorandum of understanding overrules any similar agreements reached on the project from 2011 to 2013.
The NLA approved the MoU unanimously by 187 votes with seven abstentions. (MCOT)

Thai Shrimp Association fears EU may ban Thai fisheries products

The Thai Shrimp Association urged the Department of Fisheries to tackle illegal fishing; otherwise, the European Union (EU) may ban Thai fishery products.
Somsak Paneetatayasai, association president, said fishing operators expected the EU to issue a “yellow card” to impose a close watch on Thailand for failing to strictly tackle illegal, unreported and unregulated (IUU) fishing concerning the human rights of fishing laborers.
Unless Thailand makes real progress toward a solution in six months, the EU can issue a “red card” to ban fishery products from Thailand altogether.
The Thai Shrimp Association president said the Department of Fisheries should amend laws relating to fisheries, enforce them strictly and inform trading partners that Thailand is taking action to develop sustainable fisheries that comply with international laws and principles.
Somsak said that if the EU bans Thai fishery products, frozen fresh shrimp and shrimp-based products would be directly affected. The volume of Thai shrimp exports has plunged by over 50 percent due to diseases, including early mortality syndrome (EMS), since 2012.
The yield of Thai shrimp dropped from 540,000 tons to 250,000 tons in 2013. The value of shrimp exports fell from US$3.1 billion (about Bt92.25 billion) to US$2.2 billion (about Bt65.07 billion).
From January to August this year, the value of Thai shrimp exports amounted to Bt36.9 billion, dropping from Bt41.8 billion in the same period last year. (MCOT)