More rice, rubber orders from China
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The Commerce Ministry will sign another government-to-government contract with the China National Cereals, Oils and Foodstuffs Corporation (COFCO) soon on the sale and shipments of a further 2 million tonnes of Thai rice to China next year.
Commerce Minister General Chatchai Sarikulya said the two countries might sign a memorandum of understanding on more rice trade next year.
“After the completion of rice shipments of the existing order for 1 million tonnes by the middle of next year, Thailand will send more rice to China under a new contract for 2 million tonnes,” Chatchai said.
Besides rice, a rubber company in China has agreed to purchase more Thai products with a new order for the delivery of 200,000 tonnes of rubber next year.
Furthermore, efforts are being made to stabilise rice prices in the domestic market. Talks have been held with representatives of rice farmers, Chatchai said, adding that the price of paddy rice should rise soon after the end of the rainy season. Rice millers and traders will have to purchase paddy jasmine rice at an average of Bt15,000-Bt16,000 a tonne, compared with the current price of Bt12,000.
When asked about rice stockpiles, he said the government still had about 18 million tonnes in the warehouses, lower than the 19.2 million tonnes reported after the stocks were inspected in May. Stockpiles have decreased thanks to successful sales and the shipment of 300,000 tonnes under the 1-million-tonne contract with China.
