Thai rice draws orders for 950,000 tons from Malaysia and nine other countries
Malaysia and nine other countries rush to order 950,000 tons of Thai rice
According to a November 17 report in Thailand's World Daily, Wicha, Director-General of the Department of Foreign Trade under Thailand's Ministry of Commerce, said that several countries have expressed a need to order Thai rice through government-to-government (G2G) transactions, totaling about 950,000 tons, including the Philippines, Indonesia, Iran, Malaysia, Madagascar and Brunei, mainly for consumption and stockpiling. The Department of Foreign Trade is negotiating with 9 countries.
Although the 2009 food crisis was not as severe as last year's, several countries still need Thai rice. Initially it is not possible to clearly set the selling price of rice, but it is believed that with demand rising, rice prices will not fall.
Wicha said that several countries abroad are currently suffering severe natural disasters, including India, Egypt, the Philippines, Australia and Indonesia, which may slow rice exports next year and become an opportunity for Thailand to increase its rice export volume. Since the beginning of the year until now, the total volume of rice exported through G2G arrangements has reached 950,000 tons, and in 2010 it is expected to be no less than 1.7 million tons.
At present, export prices for various types of rice on the international market have each increased by 10-20 US dollars per ton, among which the export price of 5% white rice is 520-530 US dollars per ton, parboiled rice is 600 US dollars per ton, and jasmine fragrant rice averages 800 US dollars per ton. In addition, from January 2009 to November 13, Thailand's total rice exports were 7.5 million tons, with a total value of 4.325 billion US dollars. The full-year export volume is forecast to exceed 8.5-9 million tons, and next year's export volume will certainly be higher than 9 million tons.
According to a report by Thailand's Cabinet, a cabinet meeting was held today (the 17th), at which the Ministry of Commerce will propose to the cabinet amendments to the regulations governing the rice trade, in order to conform to the currently changed economic situation. The main amendments include stipulating by law that the Minister of Commerce is the proxy, and adding a rice trade committee within the Department of Internal Trade, with the Director-General of the Department of Internal Trade serving as secretary-general, responsible for submitting work plans to the committee, including resolving obstacles existing in the rice trade, formulating measures to promote the rice trade, and supporting rice trade policy.
In addition, the committee also needs to track rice trade trends, supervise rice trade operators, and have the power to appoint officials responsible for inspecting rice trade operators and issuing operator licenses.
A person engaged in the rice trade must not be someone whose license has been revoked for no more than 2 years. If they continue to operate the rice trade in violation of the law, they will be fined no more than 100,000 baht, plus an additional fine of 1,000 baht per day. If the license expires and the operator has not registered for an extension, they will be fined no more than 10,000 baht.
Although the 2009 food crisis was not as severe as last year's, several countries still need Thai rice. Initially it is not possible to clearly set the selling price of rice, but it is believed that with demand rising, rice prices will not fall.
Wicha said that several countries abroad are currently suffering severe natural disasters, including India, Egypt, the Philippines, Australia and Indonesia, which may slow rice exports next year and become an opportunity for Thailand to increase its rice export volume. Since the beginning of the year until now, the total volume of rice exported through G2G arrangements has reached 950,000 tons, and in 2010 it is expected to be no less than 1.7 million tons.
At present, export prices for various types of rice on the international market have each increased by 10-20 US dollars per ton, among which the export price of 5% white rice is 520-530 US dollars per ton, parboiled rice is 600 US dollars per ton, and jasmine fragrant rice averages 800 US dollars per ton. In addition, from January 2009 to November 13, Thailand's total rice exports were 7.5 million tons, with a total value of 4.325 billion US dollars. The full-year export volume is forecast to exceed 8.5-9 million tons, and next year's export volume will certainly be higher than 9 million tons.
According to a report by Thailand's Cabinet, a cabinet meeting was held today (the 17th), at which the Ministry of Commerce will propose to the cabinet amendments to the regulations governing the rice trade, in order to conform to the currently changed economic situation. The main amendments include stipulating by law that the Minister of Commerce is the proxy, and adding a rice trade committee within the Department of Internal Trade, with the Director-General of the Department of Internal Trade serving as secretary-general, responsible for submitting work plans to the committee, including resolving obstacles existing in the rice trade, formulating measures to promote the rice trade, and supporting rice trade policy.
In addition, the committee also needs to track rice trade trends, supervise rice trade operators, and have the power to appoint officials responsible for inspecting rice trade operators and issuing operator licenses.
A person engaged in the rice trade must not be someone whose license has been revoked for no more than 2 years. If they continue to operate the rice trade in violation of the law, they will be fined no more than 100,000 baht, plus an additional fine of 1,000 baht per day. If the license expires and the operator has not registered for an extension, they will be fined no more than 10,000 baht.