Thailand has signed nine Memoranda of Understanding (MOUs) to export over 130,000 metric tons of rice to the Philippines, valued at more than 2.8 billion baht.
Director-General Ronnarong Phoolpipat of the Department of Foreign Trade (DFT) led the delegation of Thai rice exporters. This initiative is expected to increase Thailand’s market share of rice in the Philippines. Ronnarong highlighted that the Philippines’ demand for rice imports is projected to reach approximately 4.1 million tons in 2024.
The Thai delegation, including Jaroen Laothamatas, President of the Thai Rice Exporters Association, traveled to the Philippines from July 3-5, 2024, to strengthen trade relations and finalize the MOUs with Filipino rice importers.
In addition to the MOUs, the DFT, in collaboration with the Thai Trade Office in Manila, organized a promotional event under the theme “Premium Thai Rice with Authentic Thai Food” at Mango Tree Manila, a Thai SELECT-certified restaurant.
Over 70 participants, including importers, retailers, government representatives, and influencers, attended the event. The event featured cooking demonstrations of Thai dishes paired with Thai rice, such as green curry chicken, stir-fried pork with basil, and mango sticky rice, showcasing the unique flavors and high quality of Thai rice like Jasmine and Riceberry.
The DFT also engaged with the National Food Authority (NFA) of the Philippines to discuss market conditions and the potential reduction of rice import tariffs from 35% to 15%, effective mid-July 2024 through the end of 2028. Discussions included legislative changes to allow the NFA to import rice during emergencies, reinforcing Thailand’s readiness to support the Philippines’ food security.
The delegation’s visit was deemed highly successful, reflecting the strong reputation of Thai rice for its quality and diversity. In the first six months of 2024, Thailand exported approximately 300,000 tons of rice to the Philippines, a 381.66% increase from the same period the previous year. This export was valued at about 5.97 billion baht, marking a 558.97% increase in value. (NNT)
