Saturday, June 12, 2021

in-focus

Thailand conducts talks online for rice sales


The Department of Foreign Trade is carrying out online negotiations with Malaysia, Indonesia, the Philippines and China on rice sales since Covid-19 has posed an obstacle to face-to-face deals.

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Director-general Keerati Rushchano said that after discussions with Hong Kong were successful, the department will use Zoom video conferencing to negotiate with other countries and follow up on the situation via online platforms.
“The department plans to collaborate with rice exporters in discussing with the importers how satisfied they are and inform them that Thailand is ready to export high-quality rice,” Keerati said.
The Philippines has opened bidding for 300,000 tonnes of rice and Thailand will today (June 8) inform that country of its offer. As for Malaysia and Indonesia, the department is watching the situation closely and waiting to make a deal.
The department is also urging China to close a deal for 300,000 tonnes of rice. A memorandum of understanding is expected to be signed soon. An agreement for rubber is also expected.
Keerati said the demand for rice is increasing but Thailand must beware of its competitors such as Vietnam, which lifted its temporary rice export ban and expects to sell 7 million tonnes. Thailand hopes to export 7.5 million tonnes.
The baht appreciation is another factor that is of worry, so the department must publicise the high quality of Thai rice, which costs more than that of its competitors.
A commission to manage the standard of Daohuaxiang Rice can add a new option as consumers are demanding more of this rice, Keerati said.
Rice exports from January to May were put at 2.59 million tonnes, dropping 31.51 per cent year on year, and were worth US$1.73 billion, a decrease of 13.07 per cent, or a drop of 14 per cent in baht terms (Bt54.24 billion). The average, however, worked out to $669.88 a day, increasing 28.81 per cent.

Published : June 08, 2020

By : The Nation