Thailand’s Commerce Ministry admitted that rice exports this year may miss the targeted 8.5 million tons, but is confident that the country would be able to retain its position as the world’s largest rice exporter in terms of export value.
Tikhumporn Natvaratat, deputy director-general of the Foreign Trade Department, said that the country’s 2012 rice exports would reach only 7.5 million tons due to lower global prices and fierce competition among top rice exporting countries.
Despite the dropping volume, Thailand remains the world’s top rice exporter with the highest export value.
This year to date, Tikhumporn said, Thailand has exported total 5.5 million tons of rice, earning some US$3.6 billion. The value has increased by 18 percent year-on-year.
Thailand’s rice export value for this year will total at least US$4 billion, he said.
The deputy director-general said that the government planned to release the rice from its stocks on a continuous basis. Meanwhile, rice will be delivered to six countries under the government’s government to government contracts by the end of next year.
Although leading rice exporters – Vietnam and India – sold their rice on the global market at lower prices than Thailand, Tikhumporn asserted that the Thai government would not cut prices to compete with other rice exporters.
On the other hand, the government would pay attention to selling to other export markets which want high-quality rice.
Meanwhile, concerned officials continue a project setting up an ASEAN Rice Miller and Trade Association which will help boost cooperation among all relevant sectors in the regional rice exporting countries to further improve rice quality and set up a rice standard in the region.
Thailand has been joined in the project by Myanmar, Lao PDR, Cambodia and Vietnam.
