Thai rice industry unfazed as Seoul trims imports
Thailand is among countries affected by South Korea’s decision to import less rice, a move backed by the World Trade Organisation (WTO).
Auramon Supthaweethum, director-general of the Department of Trade Negotiations, said this week that Seoul had reduced rice imports to 408,700 tonnes annually, which includes a quota ceiling of 28,494 tonnes from Thailand.
While reducing rice imports overall, South Korea will import more from some countries based on cost.
“They are importing less Thai rice because the price is higher than those of our competitors,” Auramon said, while insisting that the Thai rice export situation remains strong.
Chukiat Opaswong, president of the Thai Rice Exporters Association, was also unperturbed by South Korea’s move, since it typically never imports a huge amount of Thai rice.
It imported only 10,000 tonnes of the 29,963-tonne quota last year, Chukiat said, because Chinese and Vietnamese rice was cheaper and because it’s getting more rice from the United States.
Thai rice costs US$420 a tonne and Vietnamese $360. South Koreans also prefer short-grain rice, whereas Thai rice is long-grain.
Seoul has boosted its import quota from Vietnam to 55,112 tonnes from 45,400, the US to 132,304 tonnes from 100,901 and China to 166,070 tonnes from 157,195.
Thailand’s quota was dropped from last year’s 29,963 tonnes to 28,494.